Washington School Audit

An audit of the Washington School District shows declining enrollment and a falling solvency ratio. Mary Babinat, with Newton Based Nolte Cornman and Johnson, says a solvency ratio is an industry term for working capital. Her report indicates it dropped for the district by more than eight percent between 2006 and 2008. Babinat says part of that is related to the district's falling enrollment. Babinat delivered her report at last night's school board meeting.