USDB finance director says school is "financially solvent" despite year‑to‑date deficit

Carl Empey, finance director for the Utah School for the Deaf and Blind, told the USDB board that the agency “is financially solvent” while presenting the monthly budget update for the eight months ending Feb. 28, 2025.

Empey said USDB’s reported inflows for the period were $40,900,000 and outflows were about $41,200,000, leaving a year‑to‑date deficit of roughly $277,000, but noted the agency still had “over a million dollars in the bank” and the cash on hand can cover bills while staff complete the audit the board approved the previous day.

The finance director described capital carryforward funds that accumulated during prior years, saying USDB spent down roughly $10,000,000 of those carryforwards after work finally could be bid and completed. He also reported cash balances at the end of February of $833,000…