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Financial report: Germantown district presents fund balances and total assets
Summary
The Germantown Municipal School District presented a financial overview March 26, showing a general fund liabilities/fund balance of $25,814,148 and a total of $174,817,000 across reported funds; some line-item figures were reported without clear units on the record.
The Germantown Municipal School District presented its revenue, expense and balance-sheet highlights at the March 26 board meeting.
Mr. Jones (financial staff) reported the general fund liabilities and fund balance totaled $25,814,148. He listed other fund figures on the record: a federal fund figure of "30,000," a school nutrition account described with both "1,600,000" and "a balance of 2,900,000" in the same exchange (the transcript did not make which figure corresponds to which fund fully explicit), an OPEB trust fund reference of "5.9" (units not specified), a fixed asset fund of $138,000,000, a health insurance fund figure of "34,000" and a combined total reported as $174,817,000.
The financial report was presented as summary information; no board action was taken. Because several figures were presented in shorthand during the oral report, the board packet and published financial statements should be consulted for exact allocations and units.
