Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finances topic
No spam. Unsubscribe anytime.
Southside ISD finance director warns revenues and expenditures remain tight
Summary
Finance staff told the board May results show revenue shortfalls in federal program receipts and tight state and local estimates; the district is attempting to limit expenditures to match likely revenues.
Southside Independent School District finance staff on Wednesday told the board May financials remain tight and the district is working to limit expenditures to avoid overspending.
Finance presenter Mr. Cadales said district revenues and expenditures continue to be close. "Things continue to be close. They continue to be tight," he told trustees, noting a $946,000 shortfall in federal program revenue relative to a budgeted estimate of about $1.3 million and cautioning that the estimate will likely need to be reduced.
The nut graf: Cadales said the district is aiming to keep general fund expenditures near $69 million to $70 million so spending matches realistic revenue expectations for the 2024-25 year. He also reviewed child nutrition participation declines during summer months and noted a pending $4 million bond payment due in August that will require discussion with the district’s financial adviser.
Cadales recommended bringing the financial adviser to a future meeting to evaluate options for debt payoff and tax-rate implications; he said an upcoming bill may affect voting thresholds related to debt decisions. The presenter also noted child nutrition revenues typically fall in summer even as annualized expenditures persist.
No formal action was taken; the item was an informational financial update.
