Jessica Grant, chief financial officer for the Lakeland Joint School District, told the board that final state budget reconciliations identified additional revenue for the district and that a county accounting correction is returning withheld funds.
Grant said during the financial report that “we're anticipating an additional $306,000 and some change in state benefit apportionment revenue if all of our numbers hit correctly,” and she warned that other unanticipated expenses — including higher-than-expected liability insurance — would offset some of that improvement.
Grant also told trustees that the Kootenai County Auditor’s Office had notified the district it will issue payment for withheld penalties and interest related to uncollected levy funding and that the county’s prior withholding had been the subject of review at the Idaho Supreme Court. Grant said she had requested a detailed accounting from the county to reconcile the figures.
Why it matters: The additional state apportionment revenue would reduce the district’s planned draw on its fund balance and help close a small gap in the budget the district presented earlier this summer. Grant said the revised numbers would likely keep the general fund ending balance near the level budgeted at adoption once a small remaining entry is made.
Board questions and context: Trustees asked when the county planned to release funding; Grant said the county indicated it expected payment by the 13th (of the month). Board members also discussed the district’s required reserve (minimum fund balance) and the difference between state requirements and the district’s policy-mandated reserve level.
Ending: The board accepted the report. No formal fiscal action (budget amendment or reallocation) was taken at the meeting; the CFO said she would bring updated working budget figures to the board in September that reflect final year-end entries and any additional position control adjustments.