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Beloit school committee hears December financial report; staff recommends forwarding full financial package to full board
Summary
District finance staff told the Business Operations and Finance Committee that December is a high-revenue month driven by state equalization aid, and recommended the committee forward the monthly financials to the full board for approval.
The School District of Beloit’s Business Operations and Finance Committee reviewed the district’s monthly financial statements for the month ending Dec. 30, 2024, and agreed to forward the report to the full school board.
Finance staff told the committee that revenues for December totaled just over $22 million and expenses were just over $7 million, producing an inflow of roughly $15 million for the month. The improvement in cash and fund balance, staff said, is primarily the result of a large state equalization aid payment received in December.
The finance presentation noted several fund-level details. The general fund (Fund 10) showed roughly…
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