Dearest reader,
We have reached Step 5 — and the final page of our Haslett Public Schools workup. 📖
This is where I take a quick look at the district's overall financial position and see whether anything in the audit deserves a closer look.
This time, something did.
Let's start with the General Fund.
💰 2024–25 General Fund
Revenue: $38,915,270
Expenditures: $39,202,512
Revenue under expenditures:
🔴 -$287,242
After other financing sources, the district's General Fund balance decreased:
🔴 -$184,542
Beginning fund balance:
$2,612,589
Ending fund balance:
$2,428,047
That left Haslett with an ending General Fund balance equal to approximately 6.19% of expenditures.
But here's where the audit gets more interesting.
🚩 Auditor Finding 2025-001
The independent auditor classified the finding as a:
"SIGNIFICANT DEFICIENCY"
Haslett's final amended budget anticipated $0 use of fund balance.
The actual result?
🔴 -$184,542
And total expenditures finished:
🔴 $288,097 ABOVE the final amended budget.
The auditor explained that expenditures occurred after the final budget amendment that had not been anticipated.
The recommendation included more conservative expenditure budgeting and procedures allowing for an emergency board meeting when another budget amendment is necessary.
The district agreed with the finding.
Then there is the Sinking Fund.
🏗� Beginning Fund Balance:
🔴 -$432,795
Change during the year:
+$279,632
Ending Fund Balance:
🔴 -$153,163
The audit classifies that ending balance as:
"Unassigned — Capital projects."
There is some important accounting context there, so I would not simply describe that as Haslett being "$153,163 in the hole." The audit also shows substantial interfund amounts associated with the Sinking Fund.
And looking forward?
The district's revised 2025–26 General Fund budget projects a balanced year with an ending fund balance of $2,428,047.
For 2026–27, the initial budget projects:
Revenue: $39,537,159
Expenditures: $39,245,511
Projected surplus:
+$291,648
Projected ending fund balance:
$2,719,695
So there are two sides to this final page of the ledger.
Haslett is projecting improvement going forward.
But the most recent completed audit also contains a formally reported significant deficiency involving the district's final budget and actual expenditures.
Both belong in the ledger.
Receipts aren't very useful if we only keep the convenient ones. 📖
That completes Steps 1 through 5 for Haslett Public Schools.
With receipts and respect,
Lady B 👑
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