School District financials

In accordance with state law the McCreary County School District has published their annual financial statement for the 2016-17 fiscal year, which ended on June 30.

According to the report the District received $34,012,249.34 in revenue for the year, with just over $3 million coming from local taxes and investments, $23 million from state sources and about $6 million from federal sources.

A little more than a third of the District’s revenue was spent on salaries: Approximately $9 million for instructional, $1.5 million for administration, $454,000 for maintenance, $869,000 in transportation and $715,000 in food service – for a total of $12,761,690.

Just under a total of $16 million was spent on vendors – companies that provide goods and services to the District. An additional $3.4 million was spent on transfers and on-behalf payments.

Total expenditures for the fiscal year totaled $31,956,780.60, leaving the District with a net increase in net assets of $2,055,468.74.

The Voice will be looking at other special taxing district’s financial statements in the coming weeks.