District reports year-end revenues near budget as auditors prepare remote review; federal Title allocations still uncertain

Kathy, a district finance staff member, told the board the revenue and expense figures through June 30, 2025, are a snapshot that will be adjusted as audit entries and receivables are posted. Kathy reported the district has collected $39,177,000, or 93.4% of the revised budget, in revenue and that expenditures through June are $40,000,791, or 99% of the revised budget. She said audit preparatory work is underway and the remote audit is scheduled for the week of Aug. 25, with formal auditor presentations planned for October. Kathy explained the district has not yet recognized all state receivables and that the state commonly withholds about 10% of funds pending final reporting and audit adjustments. On federal programming, Kathy described Title I and Title II applications as the district’s current federal filings and warned the federal allocations are finalized later in the cycle: “we do an initial application... we don't actually get our formal allocation to know what we'll really receive until the spring.” Ralph, the board treasurer, reviewed the May and June checks and tax ledger and told the board he found them “in order.” The superintendent and board members asked whether possible reductions in federal allocations would materially affect the district; Kathy and the superintendent said they are monitoring state and federal signals but that federal Title funds represent a relatively small portion of total district revenue. The finance staff said additional audit and receivable postings next month may change percentages slightly; the board was informed that the district will present a fuller audited view of June results after the August remote audit work and at the October auditor presentation.