Tue August 26, 2014
42 Percent Of Colorado's School Districts Not Meeting Financial Benchmarks, Report Finds
A report released Monday looks at the financial health of Colorado’s 178 school districts over a three-year period.
The state audit judged financial health by looking at five financial indicators, like a district’s ability to cover future expenses and pay debt.
The report found 42 percent of Colorado’s school districts missed one or more of those financial health benchmarks this fiscal year. That’s 76 school districts with worrisome finances. Last year it was only 48.
The Silverton 1 School District in San Juan County had the worst report. It failed three benchmarks this year.
In the audit school districts cited issues like reduced funding and increased costs as some of the reasons for missing the benchmarks.
No schools districts in KVNF’s eight-county listening area were singled out in the report.