Ontonagon district sheds 'financially distressed' label
November 15, 2019
By JAN TUCKER
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...