The Daily Globe - Serving Gogebic, Iron and Ontonagon Counties

Ontonagon district sheds 'financially distressed' label

 

November 15, 2019



By JAN TUCKER

[email protected]

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...



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