The Daily Globe - Serving Gogebic, Iron and Ontonagon Counties

Ontonagon district sheds 'financially distressed' label

 

November 15, 2019



By JAN TUCKER

jantuck@jamadots.com

ONTONAGON — The state of Michigan won’t be designating the Ontonagon Area Schools as a “financially distressed” district, a designation the state puts on districts that have fund balances less than 5% of their budgets.

The district’s business manager, Linda Karttunen, Monday presented the results of the 2018-19 audit to the district’s board of education. The audit showed a general fund balance of $163,605 as of June 30, 2019. That puts the fund balance at 5.21 % — above the 5% threshold and enough for the district to shed the “financially d...



For access to this article please sign in or subscribe.



 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2019

Rendered 12/08/2019 11:52