Finance director reports healthier general fund balance; explains donations account and FEMA timing
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Summary
The district's finance report showed an improved projected general fund ending balance (about $3.1 million, ~5.9% of operating revenues) and clarified how small donations are recorded (account 1920); board members asked for follow-up on FEMA reimbursement timing.
The district finance report showed improved year‑end projections for the general fund and explained a handful of ledger items the board had asked about.
Finance staff said recent end‑of‑year cleanups identified additional revenue and adjusted expenditures, leading to an updated projection of a roughly $3.1 million fund balance and an ending fund balance near 5.9% of general fund operating revenues. "We are now showing about a 130,000 in [expenditures] less than we did 2 weeks ago. That gives us a net of almost 200,000," the finance presenter said, summarizing adjustments and the net effect on the general fund.
The presenter explained account 1920 (donations from private sources) is a modest‑dollar, district‑wide account used for small gifts such as community contributions for staff breakfasts or small royalties; larger restricted gifts and booster/athletic accounts are held separately in special funds.
Board members asked about FEMA reimbursement noted earlier; staff said FEMA proceeds were recorded in a different fiscal year and would show as revenue in that year rather than the just‑closed year and that staff would follow up with a formal accounting note.
Finance staff reminded the board of an upcoming audit and asked members to submit any requests for the budget boot camp so slides and materials could be prepared.