Financial Awareness Has BA Schools Prepared For Massive Cuts

Amid Oklahoma's budget crisis, Broken Arrow Public Schools has tucked away millions of dollars and hasn't had to dip into those funds, yet.

It's no secret Broken Arrow Public Schools has a big tax base with voters who approve school bonds. But even still, when oil prices were up and the state wasn't in this budget crisis, school leaders had the foresight to save.

The Oklahoma budget crisis and recent $47 million cut to education funding in the state have most superintendents' heads spinning - but not Broken Arrow superintendent, Dr. Jarod Mendenhall.

1/18/2016 Related Story: Superintendent: Budget Cuts ‘Worst Financial Crisis To OK Schools In Decades’

"If there are things like this that happen, you have money to go back on," he said.

Mendenhall has been superintendent for six years. Five years ago, the district had extra cash and stashed it - carrying over 14 percent of the district's budget each year, that's $15 million in savings.

"We've always tried to really look at being fiscally responsible with the money that we have," Mendenhall said.

Broken Arrow is one of only three districts in Oklahoma to have its finances audited each year by an independent agency - the district has won awards for its financial reporting.

District CFO, Dwayne Thompson, is one of only two school officials in the state certified in school finance and operations.

Mendenhall said, "What can we do internally to make sure we have good checks and balances in place?"

He said the recent cuts to education funding in Oklahoma will be detrimental to students.

"Are the tax breaks really the thing that we should be doing is the question I would have," he said.

Mendenhall said so far the district hasn't dipped into savings - but that could soon change.

He said, "At least for this year we're going to be okay. End of next year, it's going to be tough. You're taking that money out of your savings account, how are you going to refill that?"

Mendenhall is meeting with state legislators Wednesday to talk about the budget crisis and education.

There could be another statewide cut to education funding in the spring that could total $20 million or more.