Viewpoint: Cash flow an issue for schools
Too much month left at the end of the money? Find yourself borrowing from one account to make a payment in another? You're not alone. It happens in many places. Business, households and schools.
Only five years ago finances were so tight that shuffling the money among accounts began in February to cover the payroll. If the shuffling had not taken place there would not have been enough in the payroll account to honor the paychecks. Not a good position.
At the end of the 2003 year there was a carryover of $350,011. Which sounds like a lot of money until you consider that it was only 1.54% of the following year's expenses. More shuffling needed to pay the bills until fresh money began coming in.
To put that in perspective, if your annual salary before taxes was $40,000 in 2003, at the end of the year you would have had only $608 in the bank to pay the bills until next month's check arrived.
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A friend of mine once relayed the following story to me that gave me pause to think. This particular friend, ìKevin,î spent a lot of time traveling with his fairly high pressured job.
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WV Marble Collectors Show
Belpre High School Prom 2008
Rendezvous on the River
Cake Decorating
Wirt vs St. Marys
MHS academic excellence
Front/Mon Cent soft
Muskingum Chamber Awards