Thursday, October 17, 2013

Press: Auditors Discover $856K Windfall for Coeur d'Alene School District

Posted By on Thu, Oct 17, 2013 at 10:18 AM

The Nampa School District could use some of the Coeur d'Alene School District's good luck.

This morning's Coeur d'Alene Press reports that preliminary results of an audit of the north Idaho district's financial records indicates an unexpected fund balance. Coeur d'Alene School Superintendent Matt Handelman told the Press that he didn't know the exact figure but "they did expect it to be higher than $856,000."

Under an agreement with the Coeur d'Alene teachers union, surplus funds would be used to restore cuts to health benefits, shoring up the district's contingency reserves, new buses and one-time payments to employees.

In 2012, the Nampa School District unveiled a $4.3 million shortfall due to a series of accounting errors, including overbudgeted federal and state income.

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