More on debt ...

In Wednesday's edition of the newspaper, I reported on the United South Central School District discovering an accounting error that caused the district to fall into statutory operating debt. Now resolved, the district is out of debt and firmly in the black.

But along the way, I came across a surprising trend.

Despite the sluggish economy and a continually declining number of K-12 students statewide, the number of districts in statutory operating debt (also called "SOD") is at its lowest level in more than a decade. From 1999 to 2007, there have been at least 24 districts in SOD, with the peak coming in 2001 with 45 districts.

For all taxpayers hear about stagnant state funding and declining enrollments, this trend seems to highlight that current accountability measures (state-mandated audits, compliance laws, billing procedures, etc.) are working to some degree.

All this, of course, could change next spring when districts balance their 09-10 books with the additional challenge of delayed aid payments (one of Gov. Tim Pawlenty's solutions for balancing the state budget).

For the latest state report on districts in SOD, look here.