The Norfolk School Board on May 21 approved the division's monthly financial report for the 10 months ending April 30, subject to audit, after a presentation by Chief Finance Officer Steve Jenkins.

Jenkins told the board that general fund collections and available balances through the period totaled about $377.7 million, representing roughly 79.5% of the $475 million general fund budget, and that spending or encumbrances totaled roughly $382 million, or 80.4% of the annual budget. "The general fund collections during the 10 months and available balances from the previous year totaled 377,700,000.0 and represent 79 and a half percent of the $475,000,000 budget for the general fund," Jenkins said.

Jenkins reported three budget entries recorded this month that exceeded $50,000: a transfer within preschool budgets moving funds for employee benefits; a transfer of tuition payments for students with disabilities from the summer program to the regular term; and a transportation transfer moving funds from contracted services for transporting students experiencing homelessness to fuel accounts. He said the fuel transfer will likely require an additional transfer to cover costs through June.

When asked about reporting and transfers, Jenkins said some transfers have been deferred in prior years and that transfers are sometimes needed to enable payment when specific accounts are short. He reported that, on an accounting basis, the district has approximately $93 million that is unspent or unencumbered, roughly just under 20% of the budget.

Board members pressed staff for details on high purchase-service line items and for the timing of the annual audit and the final operating budget; staff said the audit and the operating budget are scheduled for the board's June meeting. Jenkins and others told the board that timing differences (sales tax and state payments) account for some of the revenue/expenditure timing gaps and that cash-flow practices (including withholding teacher pay for summer release) affect reported balances.

The motion to adopt the April financial report subject to audit was moved and seconded; the board approved it by roll call.