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Superintendent outlines budget pressures: district faces CARES funding 'cliff'; proposes using reserves for staffing supports
Summary
Superintendent reported February and March financials: asset cleanup reduced assets by about $3.9 million, reserves remain around $11.2 million (about a 32% financial-condition ratio), and the administration proposed roughly $1.37 million in targeted uses of reserves for custodial support, school psychologists and social workers.
The Lake Wales Charter Schools administration presented February and March financial statements and outlined budget risks as federal pandemic-era CARES funds expire.
Interim Superintendent Doctor Johnson said asset cleanup requested by auditors reduced total assets by about $3,995,000, which reflects removal of long-retired items from the district ledger. The March statement showed net operating excess of roughly $6,035,474 year-to-date; food…
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