By Betsy Finklea
Dillon District Four received an unqualified opinion on their audit for the period ending June 30, 2013.
This is the best opinion they can receive. The audit was performed by Camp, Moring, & Cannon, LLC of Columbia.
The following are notes of interest taken verbatim from the audit:
The projected total Base Student Cost for the 2012-2013 fiscal year was $2,012.00 The State portion of that amount was $1,735.75. The balance  $276.25 was the local portion. The final level of funding was nearly identical to the FY 2000-2001 level of $2,012.00. A combination of the final Base Student Cost and enrollment will determine  State funds actually received.
Other key financial aspects were as follows:
– Net Position: The District’s Total Net Position, as of June 30, 2013, were $14, 067,423. Of that total, $5,960,778 was unrestricted and therefore potentially available for future use.
Net position may serve over, time, as a useful indicator of a government’s financial position. In the case of the District, assets exceeded liabilities by $14,067,423 as of June 30, 2013.
-Revenues and Expenditures: Revenues and other financing sources totaled $34,813,846. Expenditures and other financing uses totaled  $34,483,636. Accordingly, revenues exceeded expenditures by $47,804.
– General Fund: Our principal operating fund, the General Fund, had $23,465,536 in fiscal year 2013 revenues and other financing sources, which primarily consisted of state aid and property taxes, and $23,339,716 in expenditures and other financing uses leaving a fund balance for the year of $4,968,405.
– Debt: On June 30, 2012, the district had $1,362,934 in bonds outstanding and $104,608 in notes outstanding. Principal retirement reduced the bonds payable to $1,201,289 and the notes payable to $80,585 as of June 30, 2013.
Governmental Activities include the cost of the five major functional activities: instruction, support services, community services, intergovernmental and debt service.
– The cost of all governmental activities this fiscal year was $31,892,950.
Net cost of governmental activities ($22,795,908) was financed by general revenues, which are made up of primarily property taxes ($8,703,916) and state aid ($13,497,334).