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CFO reviews budget-to-actual, flags higher legal costs and payroll timing impacts
Summary
District CFO Rebecca presented a budget-to-actual update at the March 24 special meeting, reporting most revenue streams near expectations but noting unusually high legal costs this year and that payroll timing (March payroll) and property tax timing make comparisons interim.
District Chief Financial Officer Rebecca briefed the Elizabeth School District Board of Education on March 24 about the district’s budget-to-actual performance through mid‑March.
Rebecca said the report uses the revised budget adopted in January and provides year‑to‑date totals through March 18, with the exception of a property-tax notice that was included though the cash had not yet arrived. She told the board that state equalization payments are nearly complete for the year (87.4% of the budgeted amount had been received at the time of the report) and that property‑tax receipts typically come later — with a…
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