CLEARFIELD – During his auditor’s report, Rick Bair, of Parente Randolph LLC, told the Joint Operating Committee that the Clearfield County Career and Technology Center’s situation was financially sound on Monday night.
“It’s a very healthy situation for the center to be in,” Bair said. He said the center had $11 million in total assets.
He noted that due to the impasse, Pennsylvania operated without a budget until November. He said it put school districts statewide in a bind.
“It trickled down to you guys,” he said, adding that the center was still able to maintain classes and regular operation due to its positive financial situation.
Bair said the center’s fund balance increased by $500,000. He said their general fund totaled to around $900,000. He said overall, it was very strong.
Bair said they conducted a single audit because of the federal funding that’s received by the center’s students. He said the center receives nearly $1 million in federal aid for all adult education programs.
Bair said the center’s federal rewards have experienced a recent increase. He said it’s a “good situation” to be in, as it contributes to the financial strength of the organization.
“It’s a very strong situation. I anticipate the federal rewards would continue to increase with the adult education enrollments,” he said.
The JOC did not conduct an official meeting, as the board didn’t have a quorum.