SSCS receives money already included in fund balance
STANDISH — More than $600,000 that was factored into the budget for Standish-Sterling Community Schools, but was not a certainty when the budget was amended last month, has now been received by the school district.
When district business specialist Mike Waldie presented an amendment to the SSCS budget last month, he did so figuring in the roughly $600,000 the district was expecting from Medicare reimbursements from Bay Arenac ISD and a grant from the federal EduJobs program — money that had not yet been received.
“Now we can see where we are at, for sure,” he said. “You never know what could happen until you actually have the money in your hands.”
The district will be receiving $217,000 for its Medicare reimbursement for special education from Bay Arenac ISD and $396,633 from a grant from EduJobs.
Waldie said last year the district received around $65,000 in reimbursement from from Bay Arenac ISD.
“The Bay Arenac ISD are the ones who handle all of our Medicare reimbursements for (special education),” he said. “We used to do it ourselves. We would bill ourselves and collect ourselves. That is no longer the case.”
Waldie said it is good news to have that money now.
“It was part of my budget amendment, but the fact that it is here now is a good thing,” he said.
Last month, Waldie said the district’s fund equity had around $5.1 million, but was would be losing $670,000 for 2011.
Waldie said the losses from last year and this year are due to losses in the revenue stream due to cuts at the state and federal level.
“At least we have this (fund equity) balance,” he said in an interview last month. “Schools are falling on hard times right now. It is good that we can fall back on our fund equity, but we can not keep hitting our fund equity this hard, or it will be gone in a matter of years.”