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Alden School Board receives upbeat report in annual review of district’s finances

The Alden School Board was presented with an overall positive annual independent audit report at Thursday night’s meeting.

The report was so upbeat that the representative from Lumsden & McCormick LLP, the accounting firm hired to monitor the district’s financial health, didn’t even need to make recommendations for changes in practice.

“We are in very solid financial shape,” Superintendent Adam Stoltman said. “At this point, we’re very pleased they didn’t find anything to recommend. Usually they have minor recommendations for us.”

Also at Thursday’s meeting, the board approved its treasurer’s report for the 2015-16 school year, setting out the district’s finances. Alden has $14.58 million on hand, a number that is subject to fluctuation.

“In October, we’ll get a sum of tax payments, and we’ll get state aid throughout the year so it’ll fluctuate,” Stoltman said.

More than $13 million of that money sits in the general fund. The rest is spread out across the cafeteria fund, $92,705; the special aid fund, $7,399; the trust and agency fund, $406,057; the capital fund, $672,767; the flexible spending account, $288,388; scholarships, $23,402; and extra classroom accounts, $82,649.

Additionally, the board approved a $23,600 donation from Alden State Bank to be put toward a new scoreboard for the athletic field. The top of the scoreboard will include the bank’s name.

“Alden State Bank is incredibly generous and supportive to our school,” Stoltman said.

On Thursday, Alden canceled all after-school athletic practices and activities due to the hot and humid weather. The “real feel” temperature of 98 degrees exceeded the state’s standard of 95, prompting the district to make the cancellation.

In other action, the board approved 26 instructional, support, annual and substitute appointments to the district staff.