Dallas Independent School District Announces It Has Its Largest Budget Surplus, Like, Ever

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Shortly after the Clark County School District's board of trustees announced that Dallas Independent School District Superintendent Michael Hinojosa is a finalist for the top job there, the super released a statement in which he said, among other things:
Tomorrow, we will announce our final budget numbers from the 2009-10 school year. These figures will indicate that major efforts have been undertaken in the last two years to bring our finance system in line and rebuild our school district's fund balance.
Well, tomorrow is today, and sure enough the district just sent word: DISD posted a surplus of $54 million for the 2009-2010 school year, which is "$31 million above initial forecasts made in June and is the largest budget surplus ever posted by Dallas ISD." That original June announcement's here. The full release follows.
DALLAS ISD POSTS RECORD $54 MILLION BUDGET SURPLUS

Fund Balance Soars to $91 Million

DALLAS- The Dallas Independent School District today announced that it posted a surplus of $54 million for the 2009-2010 school year, increasing the district's fund balance to $91 million, up from $37 million following the 2008-09 school year.

The $54 million surplus is $31 million above initial forecasts made in June and is the largest budget surplus ever posted by Dallas ISD.

"The board of trustees gave this administration a strong and clear directive to rebuild the district's fund balance and this is a significant step toward doing that," said Superintendent of Schools Michael Hinojosa. "Chief Financial Officer Larry Throm and his staff put in place strict spending controls and our principals and department managers have responded. We are confident that continued adherence to these controls will restore the district's fund balance to acceptable levels when the books are closed for this current fiscal year."

"We have worked very hard to maximize revenues and reduce expenditures throughout the school district," said Throm. "By adhering to our staffing formulas, we have eliminated the issues that caused the deficit two years ago. Our goal is to rebuild the district's financial reserves to pre-2008 levels and we are well on our way."

The board of trustees will receive an update on the surplus during its meeting to be held next Thursday, September 23.

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