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Monthly finance reports show year-to-date improvement; district leaders warn fund balances remain low
Summary
A monthly financial report presented to the board showed year-to-date revenues exceeding expenditures by roughly $3.6 million through February and other early signs of improved spending controls; leaders cautioned fund balances remain below ideal reserves and capital needs persist.
At the March 10 Committee of the Whole meeting, consultant Dr. Grossi presented a revised monthly financial report that shows year-to-date revenues outpacing expenditures through February and early signs that the district may outperform its approved budget.
Dr. Grossi said the district received "a little over $25,000,000" in revenues for February and spent "a little over $16,000,000" that month, as shown in the monthly snapshot. He told the board that year-to-date revenues were about $114 million and year-to-date expenditures about $111 million through February, producing an approximate $3.6 million year-to-date surplus relative to the same point last year.
The presentation compared current-year performance to the approved budget and to the prior year. The presenter highlighted several line items that are trending below budget, including purchased services, transportation and special education purchased services, and supplies. He credited tighter review of invoices, more timely bill payment, and closer building-level budget oversight for the improved trend.
District finance leadership said they have started confirming vendor statements to verify the district’s accounts-payable position and have instructed schools and vendors to meet invoice deadlines to avoid rolling prior-year bills into the new fiscal year. The board praised the new monthly report format and said it provides earlier feedback than previous practice.
But the presenter and board members cautioned that fund balance reserves remain low compared with past years and that major capital needs will require additional resources. "The district still likely is gonna be in the lower two categories" on the state financial profile until reserves recover, Dr. Grossi said, citing low fund balances even if structural deficits have been reduced.
Why it matters: The monthly reports give the board earlier, more actionable financial information. Improved invoice processing and timelier payments are reducing year-end catch-up adjustments, but low reserve levels and upcoming capital needs keep the district financially vulnerable.
