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Silver Creek finance director reports healthy cash but warns of state funding ‘storm’
Summary
Dr. Balmer, presenting the district’s first-quarter financial report on the education and operations funds, told the Silver Creek School Corporation board on April 22 that the district ended the quarter with roughly $6.4 million in the education fund but that $640,000 of that is restricted for curriculum materials.
Dr. Balmer, presenting the district’s first-quarter financial report on the education and operations funds, told the Silver Creek School Corporation board on April 22 that the district ended the quarter with roughly $6.4 million in the education fund but that $640,000 of that is restricted for curriculum materials.
The report showed beginning education-fund cash near $6.3 million; revenue through March of about $6.04 million; and expenditures a little over $6.03 million. The Department of Local Government Finance has an appropriation on record of $22,500,000 for the education fund for the period reported; the district has spent about 24% of that appropriation through the first quarter, roughly 1 percentage point below the 25% benchmark for the period.
The operations fund began the year with about $3.5 million, brought in a little more than $1 million through March and…
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