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RSU 22 audit shows roughly $7 million fund balance; board transfers $39,507 to cover facilities overage
Summary
Board reviewed the FY24 audit, heard that the districtunallocated fund balance effectively sits near $7 million after carryforwards and reserves, and approved a $39,507 transfer from FY24 special education to facilities maintenance to zero out an overspend.
The RSU 22 Board of Directors on its March meeting reviewed the district's FY24 audit, discussed the district's unallocated fund balance and deficiencies, and approved a transfer to cover a facilities maintenance overage.
Board members and finance staff told the board the audit lists a general fund balance of $11,686,751. After subtracting a $3,000,000 carryforward included in this year's budget and $1,341,500 in reserves approved last June, the presenters said the unrestricted fund balance effectively totals about $7,000,000, which the board noted represented…
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