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MVSD Faces Tight Finances as Audit Finds Low Surplus
Trustees approve the 2007-08 MVSD financials with an accumulated surplus of 488,295, well below the four percent to eight percent target. Auditor Bill Key of Meyers Norris Penny notes no bookkeeping issues while officials warn low surplus raises overdraft costs and limits funding flexibility for new projects.
MENTIONED IN THIS ARTICLE
Mountain View School Division
MVSD
Bill Key
Meyers Norris Penny
MNP
Public Sector Accounting Board
PSAB
Key
Bart Michaleski
Michaleski
Swan Valley
Turtle River