New Castle News

Local News

February 5, 2013

New Castle Schools: District gets good news on audit

NEW CASTLE — The New Castle Area School District was financially sound for the 2011-12 school year, local auditors have reported.

But looking into the future, they noted, rising costs of health care, retirement and wages could strain the district’s reserves.

The school board unanimously approved the audit report by Robert A. Izzo and John Ruehle, certified public accountants from Philip Weiner and Co.

“It’s a good audit,” Izzo said, “and there were no findings. Overall it was a very good report in terms of their financial status as of June 30, 2012.”

He added the audit is a historical document that already is 6 months old.

Financial highlights as provided by district business manager Joe Ambrosini show the district reported a surplus of about $1.8 million for the 2011-12 year.

The district’s fund balance was $11,836,201 and its capital reserve balance $3,242,998, according to the 2011-12 annual financial report.

Factors contributing to the surplus include:

•Basic education funding increase in June, 2012, of $435,538.

•Refinancing of 2006 bond issue, saving about $500,000.

•Local wage and property tax revenue, about $600,000 because of increased collections.

•State’s share of Social Security and retirement increase by about $450,000 because of an increase in the market value aid ratio.

•The district’s receiving about $120,000 from federal stimulus health care reimbusement in the early retirement reinsurance program.

•Tuition the district paid to the Lawrence County Career and Technical Center amounting to about $450,000 less than budgeted. The district had planned for 138 students attending, but 108 were enrolled.

•Establishing the Cray Compass program for special education, which saved the district about $150,000 because of less expensive educational placements.

•Medical insurance projected to be 11 percent was reduced to 9.7 percent, thus reducing the cost by about $370,000.


Text Only | Photo Reprints
Local News
  • LOVEkitchen.jpg Love Kitchen: Little Caesars provides special delivery for Rescue Mission

    The Little Caesars Love Kitchen rolled into the City Rescue Mission for a special delivery Wednesday. A pizza kitchen on wheels, the big rig travels across the United States and Canada to meet the needs of the hungry, the homeless and disaster survivors.

    July 31, 2014 1 Photo

  • fairphoto.jpg County fair looks for a few good bakers

    The countdown to the 2014 Lawrence County Fair has begun. In less than two weeks, the fairgrounds will be brimming with animals, vegetables, fruit, flowers, music, food and fun. This year’s fair runs from Aug. 11 to 16.

    July 31, 2014 1 Photo

  • CarolineOrrico.jpg Local teen off to state DYW event

    Lawrence County’s 2015 Distinguished Young Woman is heading back into scholarship competition.


    July 31, 2014 1 Photo

  • NicholsonOffice.jpg County to buy new office for Nicholson

    Before the end of the year, the Lawrence County commissioners plan to move District Judge Jennifer Nicholson into new offices.

    July 30, 2014 1 Photo

  • PortersvilleSS.jpg Portersville Steam Show summer event arrives

    The Portersville Steam Show will stage its summer event Thursday through Sunday at its show grounds.


    July 30, 2014 1 Photo

  • Veteran.jpg Veterans seminar to view technology

    A veterans benefits seminar has been set for Friday. The program will run from 2 to 4 p.m. in the commissioners room of the Lawrence County courthouse.


    July 30, 2014 1 Photo

  • Part-time guard position created

    The Lawrence County Salary Board created a part-time temporary court guard position Tuesday.


    July 30, 2014

  • JaredGustafson.jpg Mohawk senior Jared Gustafson elected nation FCCLA officer

    A Mohawk High student was elected to national office at a leadership conference in Texas. Senior Jared Gustafson now is the 2014-2015 national vice president of parliamentary law for the Family, Career and Community Leaders of America.


    July 29, 2014 1 Photo

  • PipeDreams.jpg Concert to feature sounds of ’60s

    This week’s Friday Night Live at Riverwalk Amphitheater will feature a 1960s theme. Entertainment will be provided by Pipe Dreams. The group performs a tribute to the British Invasion and American rock ’n roll with music from The Beatles, Stones, Doors, Monkees and hits from Motown and Philly.

    July 29, 2014 1 Photo

  • well.jpg Environmental groups oppose forced pooling

    An effort by local landowners to have forced pooling declared unconstitutional is getting some outside support. Two environmental groups — Delaware Riverkeeper Network and Mountain Watershed Association — have filed a friend of the court brief with Commonwealth Court. They are asking that the court review forced pooling, which is part of a 1961 Oil and Gas Conservation Law, before scheduled hearings take place.

    July 29, 2014 1 Photo