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2012 School Budget Gets Clean Audit

Officials stayed on track for the $233.3 million budget.

Frank B. Holman, the auditor of the Toms River Regional School District, gave the district a "clean audit opinion" of its $233.3 million budget for the year ended June, 30, 2012. 

"The most important thing was the adherence to the budget," Holman told the Board of Education at Tuesday night's meeting.

He said 2.5 percent of the budget was unspent and the district was "very tight with its surplus position."

The district's revenue exceeded spending by $3.35 million for the fiscal year ended in June, compared with the prior year when it spent $1.05 million more than its revenue. The "excess surplus" totaled $174,783 for the fiscal year ended 2012.  The district had fund balances, which includes restricted funds for capital improvements, maintenance and emergencies, of $7.55 million at June 30, compared with $4.2 million on that date in 2011.

The school's debts totaled $99 million, but Holman, who is president of Holman & Frenia, said that figure is less than half of the district's assets. 

Holman also presented a report about the finances of the Bennett Complex and the Pine Belt Arena that showed the two buildings had a combined increase in net assets of $162,504 for the year ended June 30. 

"Neither building is being subsidized by tax revenues," Holman said.

The school board accepted the auditors report for the budget, as well as the report on the Bennett Complex and Pine Belt Arena, with seven votes and two abstentions.

Momma327 December 19, 2012 at 09:18 PM
I dont get it....people do research about the finances of the Board of Ed and take notes at meetings yet I have not seen any of your names on a ballot? If you care that much about the "what, when, where, and why's" of how the district spends their money and establishes their budget, than perhaps becoming a board member to voice your opinions about how to "correctly" handle school finances should be considered? Must be nice to have that much free time that you can do all of this research...?
Chief Wahoo December 19, 2012 at 09:18 PM
99 million in DEBT !!!!!!!!!!!!!
All talk no action December 19, 2012 at 09:59 PM
JD can't run for BOE he doesn't have a diploma
Johnjcpa December 19, 2012 at 10:58 PM
What part of year ended June 30, 2012 gives you the most trouble. And in case you think that this is a slander free zone, you are mistaken. When I was in practice, the last thing I'd consider were school audits, just not worth the grief. But if someone slurred me in print, I certainly would serve a supoena on the patch and work back through your email and ISP.
TRWatch December 20, 2012 at 01:14 PM
Hey Johnjcpa, How much money did you steal when you were in practice? My email and ISP look forward to your subpoena.

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