Ramsey Schools' Financial Status 'Between Good and Excellent'
Most comments on the schools' finances in an annual audit report were minor and easily fixed, district officials say
The overarching message from an auditor who reviewed the Ramsey School District’s financial status at the end of 2012 was that the district’s spending is all accounted for.
District Business Administrator, Bob Marcotulli outlined the complete financial report at a school board meeting last month. Overall, he said the school’s financial health is “somewhere between good and excellent,” and said the report contained only a few minor citations, or errors, made in terms of district finances in 2012. He also commented that they could easily be fixed. Ramsey had no material deficiencies in any of its accounting practices in 2012, he said, adding that the district has never been materially deficient.
“We write about 10,000 purchase orders a year,” he said. “Two of them had incorrect order numbers.” Marcotulli commended the district’s finance staff for keeping an accurate record of all expenditures.
As he is already working to put together a budget for the 2013-14 school year, which Ramsey voters will vote on in April, Marcotulli said the financial review showed some promising numbers going into the budget process. The district was able to put about 2% of this year’s operating budget into surplus, he said.
In a recent email, board member Richard Muti said he is hopeful for the 2013 budget process.
"We cannot adopt a budget that calls for more than a 2% overall tax levy increase, according to state law. That being said, the Ramsey board, if I remember correctly, has presented to you a proposed budget well under that cap in each of the last three years," he said.
Muti cited a 1.2% tax increase passed by voters last year. "I can't promise we will come in that low again, but [we] will do our best for the children and for the taxpayers."
The board credited Marcotulli with the district’s positive financial review. The Business Administrator was granted an award for exemplary service by the New Jersey Association of School Business Officials earlier this year.