SMCPS financial report: 71% of revenues received, expenditures at 95.5% of budget; special education transfers flagged
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Summary
At the March 12 meeting staff reported February year‑to‑date revenues at $209.3 million (71% of a $292.5 million budget) and expenditures and encumbrances of $279.5 million (95.5%). Staff noted transfers out for special education exceed the budget line as reported in the meeting.
District finance staff reported February year‑to‑date financials to the board on March 12, saying the district has received $209.3 million in revenues against a $292.5 million budget and has year‑to‑date expenditures and encumbrances totaling $279.5 million.
“Of the $292,500,000 budget, we have received revenues of $209,300,000. Outstanding revenues are currently at $83,000,000. We received 71% of the revenues,” the presenter said. On the expenditure side, the presenter reported year‑to‑date expenses and encumbrances totaling $279,500,000, representing 95.5% of the budget.
Staff identified one area of concern: transfers out related to special education exceeding the budget line. In the meeting transcript the presenter stated a figure of $204,000,000 for that overage; the magnitude of that number appears anomalous in context and should be verified with finance staff and the official budget documents. The presenter also noted the governor has highlighted special education as an area where local expenses may increase relative to state support.
No board action was taken on the financial report; it was presented for information.