Saturday, April 08, 2006
Balancing the Books—Huntley School District Compared to McHenry County
Huntley School District 158 can’t account for about $60,000 from its approximately $40 million 2004-2005 school year budget.
That’s peanuts right? It’s only 0.15%.
“Not a material finding,” as auditors would say. I wonder what they would say about Enron’s books.
But the average family in the school district earns less than $60,000.
Tell them $60,000 is peanuts.
Do you think a local tax district should have its books balanced nine months after the end of its Fiscal Year?
Are you satisfied that $60,000 could have walked away from the Huntley School District? If you were a taxpayer, would you want someone to know who got it?
One of McHenry County Blog’s commenters has hinted at this a couple of times. Step up, claim credit for being first to reveal that District 158 can’t balance its books.
Now, Jeffrey Gaunt of the Daily Herald pretty much lays it out.
My accountant, Oral Herendeen, was $10 out of balance over a four-year period with $20 million flowing through county accounts.
The $10 was a counterfeit bill that the Federal Reserve Bank seized.
So, to meet the same standard, I guess the Huntley School District should be allowed to have $20 it cannot account for.
That’s peanuts right? It’s only 0.15%.
“Not a material finding,” as auditors would say. I wonder what they would say about Enron’s books.
But the average family in the school district earns less than $60,000.
Tell them $60,000 is peanuts.
Do you think a local tax district should have its books balanced nine months after the end of its Fiscal Year?
Are you satisfied that $60,000 could have walked away from the Huntley School District? If you were a taxpayer, would you want someone to know who got it?
One of McHenry County Blog’s commenters has hinted at this a couple of times. Step up, claim credit for being first to reveal that District 158 can’t balance its books.
Now, Jeffrey Gaunt of the Daily Herald pretty much lays it out.
“You’re going to spend more money to find it than what the difference is,” the Daily Herald quotes outside auditor Tim ColeThat brings to mind when I served as McHenry County Treasurer from 1966-70.
My accountant, Oral Herendeen, was $10 out of balance over a four-year period with $20 million flowing through county accounts.
The $10 was a counterfeit bill that the Federal Reserve Bank seized.
So, to meet the same standard, I guess the Huntley School District should be allowed to have $20 it cannot account for.
Comments:
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Thanks for directing people to this piece Cal.
District 158's finances and "surprises" in poor decision making and planning aren't turning the district into a joke. The PEOPLE who ran and in some cases are STILL running the district turned it into a joke.
It's my understanding Tim Cole had ......quite.... a.... LOT..... to say about D158's books and unfortunately it got compressed into a 3 second DH column sound bite (as happens with most media coverage because of space).
To say the books were and continue to be a mess is a major understatement. I'm not sure the district will every really know whether or not that $60,000 estimate for the 2005 books is accurate or way... way off.
Seems to me (drum roll please)the CURRENT books aren't balanced either. Gosh!
Most people would cringe if they heard what Cole had to say. Private business owners would probably be stunned by some of the comments. Accountants would either be laughing hysterically, getting whiplash from shaking their heads, or looking for antacid.
Most regular, taxpaying people would also probably be grinding their teeth looking at the old board majority and asking what in the world they were thinking when they allowed it all to happen.
It's not like the old board and current (old board )members didn't have warning sirens going off in front of them - they just ignored them. By choice or by "clueless".
It's easy to see why school industry protectors like to point the intended-to-be-nasty and intimidating finger of "micro managing" at anyone who questions a district's financial choices, procedures, or numbers. Letting anyone look behind the magic curtains isn't anything they want done by "civilians". There's ugly stuff back there!
With regard to D158's finances, management, etc. - I say bring on more people who question what goes on in the district. Call them micro managers, call them anything you please - just call them.
The kids and the residents deserve more for their money than what's been done for years.
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District 158's finances and "surprises" in poor decision making and planning aren't turning the district into a joke. The PEOPLE who ran and in some cases are STILL running the district turned it into a joke.
It's my understanding Tim Cole had ......quite.... a.... LOT..... to say about D158's books and unfortunately it got compressed into a 3 second DH column sound bite (as happens with most media coverage because of space).
To say the books were and continue to be a mess is a major understatement. I'm not sure the district will every really know whether or not that $60,000 estimate for the 2005 books is accurate or way... way off.
Seems to me (drum roll please)the CURRENT books aren't balanced either. Gosh!
Most people would cringe if they heard what Cole had to say. Private business owners would probably be stunned by some of the comments. Accountants would either be laughing hysterically, getting whiplash from shaking their heads, or looking for antacid.
Most regular, taxpaying people would also probably be grinding their teeth looking at the old board majority and asking what in the world they were thinking when they allowed it all to happen.
It's not like the old board and current (old board )members didn't have warning sirens going off in front of them - they just ignored them. By choice or by "clueless".
It's easy to see why school industry protectors like to point the intended-to-be-nasty and intimidating finger of "micro managing" at anyone who questions a district's financial choices, procedures, or numbers. Letting anyone look behind the magic curtains isn't anything they want done by "civilians". There's ugly stuff back there!
With regard to D158's finances, management, etc. - I say bring on more people who question what goes on in the district. Call them micro managers, call them anything you please - just call them.
The kids and the residents deserve more for their money than what's been done for years.
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