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District reports FY24 excess and deficiency certification of roughly $1.0 million
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Summary
Business office reported the FY24 general fund excess and deficiency (E&D) certification at approximately $1,000,008.72, about $800,000 less than the prior year; administration noted audit is near completion and described major contributors to the E&D figure.
The district’s business office reported that the Department of Revenue certified the FY24 general fund Excess & Deficiency (E&D) at approximately $1,000,008.72.
Nancy (last name not specified in transcript), presenting the finance update, said the certified amount is about $800,000 less than the prior year’s certification. She explained that the E&D figure reflects the net of revenues and expenditures for the general fund and that the district carried forward less from prior years because the committee used prior E&D during last year’s budget. She cited roughly $620,000 in revenues over expectations — primarily investment income and a return of funds from the Valley Collaborative (about $150,000) — plus roughly $70,000 higher Medicaid reimbursement than projected.
The administration said the audit is largely complete and the Department of Revenue processed the certification earlier than typical. No committee action was required; the report was informational.
Why it matters: the E&D certification affects available fund balance and how much one‑time funding is available for future budgets.
What’s next: business office will circulate details in the packet and continue to close the audit and reconcile encumbrances.
