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District reports narrower year-end deficit than projected; expects deficit near $3M-$4M
Summary
The finance director reported a net change in fund balance of about -$6.75 million at an interim point but said updated TEA summary information and late receipts should reduce the expected deficit to roughly $3 million to $4 million by year-end.
The Northwest ISD finance director told trustees on Tuesday that preliminary year-end numbers showed a negative net change in fund balance of about $6.75 million, but updated state revenue adjustments should narrow that deficit to an estimated $3 million to $4 million.
Presenting the August financial report, the director said revenue and expenses were tracking normally for the early fiscal year and noted that the negative fund-balance figure reflected…
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