Superintendent Ronald Taylor had a bit of good news for the Mammoth Spring School District.
Taylor said the state was off on the projected balance for the school, which put the school on the financial distress list.
The Arkansas Department of Education had projected Mammoth Spring School District's end of the year balance to be about $100,000.
The district's fiscal end of the year is June 30. Taylor said the district's balance ended up totaling $294,269.54. This balance does not include federal stimulus money.
According to Arkansas Department of Education legislation, there are several indicators that a school district is in fiscal distress. The one indicator the state faulted the school district on was, "A declining balance determined to jeopardize the fiscal integrity of a school district."
Taylor said the state faulted the district on this indicator, but they did not take into consideration part B of the indicator, which is, "Capital outlay expenditures for academic facilities from a school district balance shall not be used to put the school district in fiscal distress."
"We spent money making capital improvements on the school, which were one time expenses," Taylor said.
Other indicators, which the Mammoth Spring School District was not found at fault for, include failure to maintain school campus facilities, failing to provide a safe environment for students, auditing issues and other budget and funding problems.
"The school is in good financial shape," Taylor said.
He said there are no set guidelines as to how districts can be taken off the list. However, "I'm requesting (the school district) to be removed from the list as soon as possible," Taylor said.