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Finance director reports insurance recoveries and $8M projected SPED shortfall
Summary
Director of finance Chris Bishop told the board the district is slightly ahead of projected revenues through February because of higher enrollment and unexpected insurance recoveries, but special education expenditures currently project an approximately $8 million shortfall without additional funding.
Chris Bishop, director of finance and business for the Peninsula School District, presented the monthly budget update at the April 1 board meeting.
Bishop said total revenues are about 2.25 percentage points above projection, driven mainly by 41 students over projected enrollment and several large insurance recoveries totaling approximately $443,000. He called out large insurance reimbursements tied to water damage and facility repairs, and said timing differences in federal grant…
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