District finance staff report June results: FTE steady, fund balance about $13.9 million

Moses Lake — District finance staff reported June financial results Aug. 7, saying full-time-equivalent enrollment had not changed since the last report, enrollment was 14 students above projection and the district’s fund balance stood at roughly $13.9 million as of June. A staff member identified as Ruby presented the June figures and explained the district must hold a minimum fund balance equal to 12.5% of the prior year’s expenditures under district policy. Ruby said that because the levy funds pledged for next school year do not arrive until May, the district will use fund balance to cover expenditures such as salaries and extracurricular costs before levy receipts arrive. Ruby compared June results across recent years and said the district had previously over-expended in prior years (figures cited verbally by staff) but is currently reporting a positive variance of about $2.2 million relative to expenditures due to conservative spending. She said the district projected reserves would decline during the school year and then be replenished after levy receipts in May. Board members asked no substantive follow-up questions during the presentation. The presenter said staffing searches are being deliberate to ensure appropriate hires, and reiterated the district’s conservative approach to spending. All figures and trends described by staff were presented as district accounting reports; staff identified Skyward as a data source used in financial reporting.