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Committee reviews August revenue and expense report; staff flags $1,200 state-aid shortfall and payroll coding fix
Summary
Committee members reviewed August financials. Staff said a state aid payment arrived about $1,200 below the estimate and noted a payroll coding error that will be corrected by journal entry, which will raise marketing payroll expense next month.
Committee members reviewed the August revenue and expense report during the Sept. 17 meeting. Emily (staff) said the state aid payment that month was about $1,200 less than anticipated and explained franchise-fee estimates provided by the state can differ from actual payments. "That 1 came in just, like, 1000 $1,200 less than what we expected," Emily said when explaining the variance.
Staff also described a payroll coding issue that temporarily underreported marketing wages: Haley’s time had been split entirely to marketing in the payroll system, but Executime entries selecting other cost centers reallocate charges elsewhere; staff said they will record a correcting journal entry so the payroll figure will increase in next month’s report. After discussion the committee moved and voted to approve the August revenue and expense report.
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