Benton Harbor Area Schools is no longer in a fund balance deficit. In a press release, the district says after 14 years of deficits, the board of education learned this week it ended the 2020-21 fiscal year in the black for the first time in more than a decade. Auditors from Hungerford Nichols, CPAs and Advisors said the district increased its fund balance, or savings, to 11.7% of the budgeted 2021-22 costs. A strong fund balance helps a school district adjust to changing circumstances throughout the year. On June 30, 2020, the district’s fund balance was negative $1.2 million. By June 30 of this year, the district’s fund balance had grown to $3.2 million. Auditor Michael Gruennert said the positive audit is “just the beginning of something great for Benton Harbor.” At its lowest, the fund balance at Benton Harbor Area Schools was negative $16.4 million in June of 2011. The 2020-2021 fiscal year was the first since 2007 that the district the fiscal year with a positive fund balance in its operating fund.
Audit Summary – https://bit.ly/3D4fytL
Audit Report – https://bit.ly/3H7QS6j
