Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Finance topic
No spam. Unsubscribe anytime.
District finance director reports audit delays, CTE revenue questions and federal grant timing
Summary
The district finance report said the external audit remains unfinished due to misfiled records and a two-year review, building rental revenue for the CTE center is unlikely this year, and some federal grant dollars will roll to the next fiscal year.
Williston Basin School District 7’s monthly financial report highlighted several items for the board: the external audit is still pending, some local revenue lines may be miscoded, the CTE center’s building-rental revenue is unlikely to appear this fiscal year, and a portion of federal grant dollars will roll into the next fiscal year.
The finance presenter said auditors are still compiling materials and that delays reflect the scope of a two-year audit and locating records that were filed differently. Bank reconciliations and monthly reconciliations are current, the presenter said, and the district is projecting a larger-than-expected addition to the fund balance once payroll and routine operations are cleared.
Board members asked about a local revenue line item described on the report as “elect gen” (budgeted at $850,000 but showing zero year-to-date). The finance presenter said the item is likely miscoded and will be checked; local levy and electrical generation receipts might be routed to different accounts.
On the CTE center, the finance presenter and Dr. Jermison said the district has been discussing operations with Watford City and the CTE director; state rules cap the amount a CTE center can charge for building rent and the district does not expect the $770,266 building rental budget to materialize this fiscal year. The presenters said some payroll and reimbursement coding was adjusted so CTE payroll is now coded directly to state CTE funds where appropriate.
Regarding state vocational program aid (Carl Perkins and related funds) and other federal dollars, staff said some state and federal reimbursements are pending and that they expect some federal funds to roll into the next fiscal year; staff plan to improve monthly claim submissions to stabilize cash flow.
Board members requested follow-up on the audit timing and asked staff to check the miscoded revenue line and report back. The district business office said it will continue monthly reconciliations and work with principals on site budgets for next year.
