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Lynchburg schools end fiscal year with surplus; board asked about $750 bonus and insurance improvements
Summary
CFO Jamies reported June close showing a $286,580 surplus compared with a $2.3 million deficit in the prior year; the board discussed a $750 employee bonus (local supplement funded at about $500,000) and insurance-cost improvements that may reduce future premium increases.
The Lynchburg City School Board on Monday received the division’s year-end financial report for June, which showed revenues and expenditures close to budget and a positive net position compared with the prior year. Chief Financial Officer Jamies told the board June activity left the division about $286,580 in receipts over disbursements for the month, and that year-to-date health insurance spending had declined compared with the prior year. Jamies said revenue collection rates for the fiscal year were roughly 99.12% vs. original appropriations overall; by source she reported state revenue collected at about 98.92%, federal at 53.69% (federal…
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