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Finance director: district spending on track; federal funds pending; board approves FY24-25 budget amendment
Summary
The finance director told the board that month-to-date spending is on schedule and that several federal funds had not yet been received. The board approved a fiscal-year 2024'15 budget amendment during the meeting.
The district finance director reported on Oct. 14 that spending was generally on track for the month and that several expected federal funds had not yet been released.
Finance update: The presenter told the board that the majority of district funding pays staff payroll and that month-to-date spending aligns with expectations. Several PRC-coded federal funds (PRC 20, 29, 43, and 606367 were cited in the presentation) had not yet been posted to the district's accounts; the presenter explained those funds typically begin to drop in October and were in final approval stages.
Restricted and county funds: The presenter said Fund 2 (local/counties) was fully scheduled for expenditure, while Fund 8 (restricted grants) was still being reconciled because grant-funded programs must be used for designated purposes.
Technology and procurement caution: Staff cautioned that the technology placeholder in project budgeting was $2,100,000 and that purchases would be timed to avoid obsolescence.
Budget amendment vote: Following the finance presentation, the board approved the fiscal-year 2024'15 budget amendment by voice vote. Staff said the amendment represents final budgets for the previous fiscal year and that finance will publish the amendment and file final budget documents.
Why it matters: Timely receipt of federal funds and careful timing of technology procurement affect program execution and fiscal stability. The approved budget amendment completes the district's FY24-25 accounting and frees staff to close books and pursue contingency allocations as directed by the board.
Ending: The finance presenter invited questions and the board recorded the budget amendment approval. No roll-call tallies were recorded in the public transcript.
