Assets, enrollment decline for Sikeston Schools

SIKESTON -- Net assets of the Sikeston School District decreased again last school year, but the district continues to remain financially stable.

Certified public accountant Mike Radake of Van de Ven LLC of Cape Girardeau presented the audit of the 2008-2009 school year to the Board of Education during its regular meeting Tuesday.

"The district is well situated to handle anything that will come at you in the future," Radake told the Board.

In total, net assets decreased $1.6 million when compared to the value of net assets in 2007-2008, a 13.3 percent change in net assets for the year. The board and administration decided to spend down reserves to continue the academic programs put in place over the past few years.

Total revenues budgeted for 2008-2009 equaled $31.7 million which exceeded the budget by less than 1 percent. The district spent $33.2 million last year, which is 2 percent less from the amount budgeted.

A continued decline in enrollment for the district did result in less money for the district, Radake said.

Radake said the district was in compliance with state laws and regulations regarding budgetary and disbursement procedures.

"There were no compliance and control issues," Radake said.

"You're in for a few years of tough times, but I think things will get better," Radake told the Board. "You will have to make some tough decisions. You are fortunate to have reserves and a professional staff that understands what's going on."

In other business, the board gave consent for the district to participate with the state Department of Elementary and Secondary Education in the Race to the Top program.

"As part of the President's overall stimulus plan, each state has access to $2 billion that will cause states and schools who participate to make some positive changes in some activities and programs they do," Superintendent Steve Borgsmiller said.

To access the funding, districts must sign a resolution of participation.

"If we don't do this, we'll be on the sidelines for a while," Borgsmiller told the board about the importance of participating in the program now.

Separately, Pam Arbeiter of Cape Girardeau was approved for a one-year contract with the district to provide vision instruction/orientation and mobility therapy services.

The board also accepted the retirement of Judy Armstrong, Parents as Teachers educator, and approved the sale of surplus textbooks and budget adjustments for 2009-2010 school year.

Dr. Marisa Bowen, assistant superintendent of curriculum and middle grades, provided details on the district's annual performance report, which determines whether a district receives accreditation.

A district meeting nine of 14 standards is considered accredited. Sikeston met a total of 13 standards.

Mike Brown, director of building and grounds; Gary Silverthorn, director of the Sikeston Career and Technology Center; Christy Priday, director of the gifted program, Ensuring the Academically Gifted a Learning Environment; and Scott Ezell, director of school safety, provided annual updates of their programs to the board.

Christmas vacation begins with early dismissal Dec. 18, and school will resume Jan. 5.