District presents preliminary year-end financial report; auditors due in September and final audit in November

District finance staff presented a preliminary year-end financial report showing revenues of about $75,968,388.06 and expenditures of $71,349,107 as of June 30, and reminded the board that the figures are preliminary pending student-count reports and late invoices.

"This is a very preliminary, year end report," the finance presenter said, noting the fiscal year closes June 30 and that it takes months to finalize audit adjustments. The presenter explained that state aid is calculated in part by average daily membership (ADM) reporting and that final enrollment numbers are not due to the state until October; those adjustments can increase or decrease state aid because the state initially pays 90 percent of projected amounts and holds 10 percent for later adjustment.

On the expense side, staff said additional invoices, accruals and payroll items will affect the final numbers and that Ryan (finance/fiscal staff) will complete journal entries and year-end work over the coming months. The district expects auditors to begin preliminary work as early as September, with a final audited statement typically presented in November.

Why it matters: the presentation framed the numbers as interim and explained the administrative mechanics that can change the district's reported year-end amounts. Board members asked when auditors would start; staff said September and emphasized that the numbers presented are based on data entered into the district's financial system as of June 30.

Provenance: Presentation began at the monthly financial overview item and closed with board questions about the auditors' schedule.