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District finance staff explain temporary fund-balance drop as levy-timing issue
Summary
Board members questioned a roughly $2 million drop in fund balance; finance staff said property-tax levy receipts are cyclical and a roughly $4.5 million levy collection expected in April will reverse the shortfall.
Board members asked for clarification after the district's February budget-status report showed about a $2 million reduction in fund balance; finance staff said the decline is a timing issue tied to levy collections.
"This time of year, we have not received our property taxes or our levy taxes from the state. We won't receive that till April," said Tia, the staff member who presented the budget-status clarification. She said approximately $4.5 million in levy receipts remain to be collected and that those receipts come in only twice a year, producing a seasonal decline between January and April. "So there's kind of a cyclical drop between January and April, and then the revenue shoots back up because of the levy," Tia said.
Why it matters: The explanation frames the February drop as a temporary cash-flow timing issue rather than a structural shortfall; board members requested verification and context for the rest of the fiscal year.
Supporting details: At the discussion a board member summarized the concern as "There was a reduction of about $2,000,000 on fund balance. Expenses outweighed revenue." Tia replied that a roughly $4,800,000 balance still had to be collected and that the levy receipts will correct the apparent shortfall once posted.
Ending: Trustees asked staff to continue reporting projections and to provide follow-up context as the levy receipts arrive in April.
