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Board hears budget update: property tax collections noted and ESSER funds closed; sales tax up 5.35% for February collections
Summary
Business director Lee Waskom reported general fund revenues are slightly down due to MFP changes but property tax collections of about $11 million were received; child nutrition showed a $287,000 positive balance and ESSER funds are closed. Sales-tax collections reported a 5.35% increase for the February reports (January sales).
Lee Waskom, the district's business director, gave the monthly budget update and told the board general-fund revenues are down slightly because of changes to the state's Minimum Foundation Program but that recent property tax collections added roughly $11,000,000 to revenues.
"You'll notice here in the general fund budget that revenues are down a little bit and that's due to the MFP lowering," Waskom said. "You will notice that last year last month, this was $2,626,000,000. ... And what's happened is the month of collections of the property taxes has happened. And that was, $11,000,000 worth of property taxes that we collected."
Waskom also reported child nutrition had a positive balance of about $287,000 and that ESSER (Elementary and Secondary School Emergency Relief) funds for the district are now closed and will be removed from regular monthly statements later in the fiscal year.
On the sales tax report, Waskom said the notice for February collections (which reflect January sales) showed a 5.35% increase for that month and a cumulative year-to-date increase of about 1.37% compared with last year: "For the month of, February collections ... we had a 5.35% increase." He cautioned that revenues tied to a new industrial plant may not yet be visible in those numbers and that next month's report will show more recent impacts.
No board action was taken during the informational report.
