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Socorro ISD CFO reports $19M estimated general fund reduction, $35M loan and health fund shortfall to board
Summary
Chief Financial Officer David Solis reported the district expects a net change in general fund balance of a reduction of approximately $19 million after year‑end entries, noted a $35 million loan obtained in June, and said the health fund shows an $11.1 million deficit with a planned transfer after close.
Socorro ISD Chief Financial Officer David Solis presented the district’s quarterly financial update for the period ending June 30, telling the board on Aug. 20 that the general fund expenditures exceeded revenues by $26.7 million as of that date but that after final year‑end entries the district expects a net reduction in fund balance of approximately $19 million.
Solis said the district…
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