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District finance staff reports property tax receipts lifted operating balance; enterprise revenues up
Summary
Finance staff said January property tax receipts and timing pushed the district’s operating fund balance higher and that enterprise account revenues are up compared with last year.
District finance staff reported that property tax receipts in January raised the district’s operating fund balance to near its highest point of the year and that overall revenues are tracking close to projections after an adjusted budget.
The staff member said the district finished with nearly $100 million in operating funds and that property tax collections were about $4 million higher at this point than the same time last year. "About 96% of the property tax assessed gets paid on time," the presenter said, noting a typical 2.5% noncollection and county fees.
The report noted enterprise accounts (such as online payments and activity fees) are roughly $1 million higher than last year, which staff attributed in part to faster online collections and timing of expenses for programs such as the Kids Heart Challenge. Investment earnings were down, but the budget was adjusted to reflect changing interest‑rate expectations.
The finance presenter recommended approval of the financial reports; the board moved and approved the reports by voice vote.
