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District financial snapshot: $23.8M M&O budget, capital reserves, and state court ruling on school facilities funding noted
Summary
The administration presented the district's monthly financial report showing a $23.8 million M&O budget with significant encumbrances, a capital (DAA) budget of $3.1 million, and discussed a recent state court finding that Arizona has been negligent in capital finance, which may affect future school facilities funding.
The district presented its first monthly financial report for the year. Miss Davis reported the district’s maintenance and operations (M&O) budget at $23,800,000 with year-to-date actual expenditures of about $2,800,000 and encumbrances of about $11,700,000, leaving a current budget balance of roughly $9,200,000. Miss Davis noted encumbrances represent obligated but not yet spent funds, principally salaries and benefits. She said the adopted budget…
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