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Finance director fields questions on negative net balances as board approves OE‑5 and OE‑6 monitoring reports
Summary
The district’s finance director reviewed quarterly financial statements and explained negative interim balances; trustees sought clearer line‑items for transportation and grant reporting.
Durango School District No. 9‑R’s director of finance presented quarterly financial statements during the March 25 board meeting and answered trustees’ questions about several negative balances and fund classifications.
Director of Finance Kira Horn (present remotely) walked trustees through the general fund, food service fund, building fund and government‑designated grants fund. Trustees asked about a negative net balance in the general fund, a large “other” expenditures line (primarily charges between schools and transportation), a building fund showing a negative net change while projects are underway and a food service fund with a negative year‑to‑date balance. Horn explained that certain reimbursements (for building projects) and interfund charges affect interim reporting and that federal meal reimbursements flow through the Department of Education; the district expects reimbursement timing to correct some negative balances.
Trustees requested clearer line‑item presentation of transportation charges so they can be tracked year to year; Horn agreed to separate property service and transportation reimbursement categories in future budgets. Trustees also asked why grants and local sources were placed under the government‑designated grants fund (the 22 fund) rather than in the general fund; Horn said the district classifies grants in the 22 fund for transparency though state rules do not always require that placement.
Separately, the board considered monitoring reports OE‑5 (financial planning) and OE‑6 (financial administration). A motion to approve both monitoring reports and find them in compliance was moved, seconded and approved on a roll call: Erica Brown, Andrea Parmeter, Rick Petersen, Kristen Smith and Katie Stewart recorded “Aye.”
Board members asked staff to provide cleaner copies of edited policies before posting and to publish clearer budget line items for transportation and grants in future packets.
