District gets good news on finances

The district had about $1.2 million in revenue higher than projected.
BY LAURE MILOSER
VINDICATOR CORRESPONDENT
NEW WILMINGTON, Pa. -- The Wilmington Area School District received good news this week with a successful bond sale and a positive audit report.
Public Financial Management assisted in the bond sale, which will save the district $315,869.98 in bond debt service in the next few years.
Boenning and Scattergood Inc. was the winning bidder from eight companies that submitted bids, said Jamie Doyle of Public Financial.
Bill McKnight of McGill, Power, Bell and Associates LLP of Grove City, Pa., gave the district's 2004-2005 audit report.
Records show a $1,271,279 excess over projected revenue, resulting in an ending fund balance of $3,460,113.
Superintendent Dr. C. Joyce Nicksick said earned income taxes, real estate taxes and collection on delinquent taxes all came in higher than budgeted.
During its meeting Monday, the board agreed to award a contract to Reed Oil Company of New Castle for gasoline and diesel fuel for student transportation. The contract for the remainder of the 2005-06 school year will allow the district to pay rack price plus a delivery fee of $.0250 per gallon.
According to Nicksick, the rack price is what Reed Oil is charged when they fill the tank truck in Pittsburgh.
In other business, the board:
UApproved Paul Smargiasso as head varsity girls softball coach at a salary of $1,900.
UApproved Bell Wise as assistant girls varsity softball coach at a salary of $1,500.
UApproved Lori Cox as long-term elementary substitute.
UAgreed to create a three-hour-per-day teacher aide position at New Wilmington Elementary.