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District projects 5.1% fund balance after higher-than-expected transportation allocation; SafetyNet finalization pending
Summary
Marshall reported a revised fund-balance projection of 5.1% after the transportation allocation came in higher than forecast; the district is awaiting final SafetyNet and community impact figures before finalizing year-end numbers.
At the Granite Falls School Board meeting, Business Manager Marshall updated the board on the district’s general fund projection and named two outstanding items that will affect the final year-end number: SafetyNet funding and a community impact figure.
Marshall said he revised the projected fund balance to 5.1% after the district’s transportation allocation was higher than expected. Marshall told the board the allocation was $2,130,000, compared with a forecast of roughly $1,616,000. "I did change the projection to 5.1% fund balance based on we got our transportation allocation, and it came out on the high side of $2,130,000 instead of the $1,616,000 forecast," Marshall said.
Marshall said the district is still awaiting final SafetyNet calculations and a community-impact number; once those are finalized, the district will have a firmer year-end projection. He expressed confidence the district will meet a 5% fund-balance target for the fiscal year.
Board members thanked the staff for work on SafetyNet and noted the application process required substantial staff time. Marshall and a board member said the SafetyNet submission involved hundreds of hours of staff work to document high-need claims.
Ending: The finance update was provided as an information item; no formal board action was recorded on the projection at the meeting.
