The Neosho School Board of Education received some good news pertaining to the district's reserve balance.

The Neosho School Board of Education received some good news pertaining to the district's reserve balance.
"We have not had financials published for three months because we have had some issues that we have been working through in our finance department, we have had significant personnel turnover there," said Steve Douglas, board president. "We got our financial statements straight, we had those presented (Monday) night along with our budget. The best things for us as a takeaway is that when we ended our fiscal year in June 30 of this year, we ended with a reserve balance of 19 percent, which is important because at the beginning of the previous year, we were looking to be around 13 percent, so we have improved the reserve balance. Our target for the end of this fiscal year - assuming that we have no huge expenses related with the Goodman tornado - target is to get our reserve balance up to 22.5 to 23 percent."
Douglas explained what the reserve balance is for.
"It can be a 'rainy day fund,' but what we have used it for is - when I first got on the board, we took some money out of those reserve funds and we used it to pay for the addition of the front of the high school," he said. "There was FEMA money that was provided to the high school to pay for tornado shelter there. But those FEMA shelter are only the outside walls and like an air system that basically filtration. But we used district money to supplement the FEMA money to put classrooms in there to give us extra space so that we didn't have to ask the taxpayers for a bond issue or anything different there. So as we have saved money up, we have tried to plan to spend that money on things that we need without any tax increase to wisely use whatever we already have."
Douglas said he and the board is pleased with the news.
"I am very pleased about it," he said. "Each percentage point is over $300,000, significant money, and as we save back, it helps us if you have a situation like that tornado that hit Goodman or if we have any kind of fluctuation in state aid. If the legislature had to make any cuts in the future, we had a little bit of protection there to help us whether that, so it is very exciting for us as a district."