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CFO reports steady budget tracking, enrollment dip and possible state funding increase
Summary
CFO Ryan Wallace told the board that the district is tracking to budget, with salaries as the largest expense, a small enrollment decline since last month, and a potential 5% funding increase in the state formula under legislative consideration.
CFO Ryan Wallace gave the Lake Pend Oreille School District board a financial update on Feb. 11, saying the district is tracking close to budget while noting timing for levy and state payments and a small enrollment dip after semester change.
Wallace said the district receives a large share of property tax and tort levy dollars in an early payment and that about 55–60% of certain levy revenues arrive with the first payment. On the expenditure side he said monthly salary costs for the general fund are about $3,500,000 and that purchase‑service and…
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