Board approves $1,066,342.52 in bills, hears fund-balance report showing year-over-year declines
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Summary
The board approved reimbursement of $441 to the impressed account and payment of $1,066,342.52 in bills; staff reported a roughly 14% drop in fund balance year over year and provided revenue detail for the education fund.
The Effingham Unit 40 School Board approved routine financial items including reimbursement to an impressed account and payment of bills totaling $1,066,342.52 after the district's finance staff presented a fund-balance update. Finance staff apologized that visuals were not available because the budget is being loaded into new software and then reported figures: "we're showing a 14 o 6% decrease over last year with a net fund balance of $17,698,891.90," the presenter said. Staff also reported a 13.65% decrease in operating funds with a net total of $16,440,681.27, and provided education fund revenue breakdowns: local revenue $307,252.12; state revenue $167,066.08; federal revenue $171,313.02. Staff recommended "to reimburse the impressed account in the amount of $441 and then the payment of bills in the amount of 1,066,342 dollars and 52 cents," and the board moved and approved the payment. Board member Andrew moved the motion; Board member Erica seconded. The motion passed by roll call with all recorded votes in the affirmative. Separately, the board approved the consent agenda (minutes and fundraisers) and accepted two sympathy correspondence items from Darlene Coffin and Melissa Habing.
