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Port Angeles district finance report shows bond receipts and improving four‑year fund balance
Summary
District finance staff told the board the general fund balance fell slightly but remains stronger than a year ago; capital projects showed large revenue because bond proceeds arrived and the district is beginning planned spending.
District finance staff reported at the July 24 board meeting that the general fund ending balance declined slightly from the prior month but remains healthier than the same point last year, while capital projects revenue rose because bond proceeds have been posted to the district’s accounts.
The presenter said bond receipts are shown separately in the capital projects fund so the board can distinguish levy and bond dollars. “That’s where the bonds have come in,” the presenter said, and noted construction spending is already underway on project budgets. The district’s debt service account also received deposits and will be used to make scheduled debt payments.
Key figures the presenter cited (as reported): the district paid about $223,000 less in the comparable June period than the prior year; MSOC expenditures were about $56,000 less than the previous year; and the four‑year fund balance chart shows an improved trajectory compared with the prior year.
Board discussion was brief; one member asked whether the sharp rise in fund balance seen between June and August in an earlier year would recur, and staff declined to predict the cause of that previous jump. The superintendent and board members praised the finance team’s work.
What happens next: staff will continue regular monthly finance reporting and present the 2025–26 budget work in upcoming meetings.
