Finance director reports cash position, federal grant releases and budget draft updates

Jenny, presenting the financial report, told the board the district’s bank balance was $63,300,000 and that August-to-date revenue was $2,700,000, adding that tax bills had not yet been mailed. She reviewed July cash flow showing $914,000 in revenue and $4,100,000 in expenses and said the district will rely on its fund balance to cover timing differences. Jenny reported that federal grants for the prior fiscal year had been released: “the federal government did release title 2 and they did release, the IDA grama, and they did release the title 3 grant.” She said the district updated grant numbers in the draft budget, which will be up for adoption in September and submitted to the state. She also noted two consent-agenda items on the meeting packet: a hazardous-crossing reimbursement line (used to recoup state-mandated transportation costs when a student crosses Ogden or railroad tracks) and the annual workers’ compensation renewal. No board action on the budget draft occurred at the meeting; the superintendent and finance staff said they will present the adoption item in September.