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School board reviews July month‑end finances as auditors finalize beginning balance
Summary
At a work session the school board heard an expanded July 31, 2025 month‑end financial report showing early‑year encumbrances that raise expenditures to 11.16% of original appropriations; auditors are still finalizing the beginning balance and a reported $2.5 million health‑insurance lag is expected to change after audit review.
The City School Board on Sept. 2 reviewed the division’s 07/31/2025 month‑end financials and an expanded expenditure report as auditors continue work that will determine the official beginning balance for fiscal 2026. Miss Jamies, a finance staff member, presented the report and summarized early‑year encumbrances and revenue receipts.
Miss Jamies said, “You have before you 07/31/2025 month end financials,” and described a new, more detailed expenditure layout intended to increase transparency. She told the board that July represents 8.33% of the fiscal year and that, as of that date, revenues collected were 3.52% of the original appropriation while expenditures were 4.61% and expenditures inclusive of encumbrances equated to 11.16%.
The presenter said…
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