Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finance topic
No spam. Unsubscribe anytime.
Finance report: district receipts rise about $700,000; bond fund expenses ramp up
Summary
The district reported roughly $700,000 of increased receipts this month, driven by state apportionment changes tied to land-investment numbers; bond-fund expenses for the high-school project increased, and the next bond payment is scheduled for June.
District staff reported an approximately $700,000 increase in receipts compared with last month, principally tied to a higher state apportionment number that staff linked to land-investment calculations and consensus student counts.
Presenters said the state apportionment this month was about $1.2 million versus roughly $500,000 in the same period last year, producing the $700,000 increase. Staff cautioned that the number is difficult to forecast because it depends on state-calculated figures and the district will continue conservatively forecasting going forward.
The report noted that bond-fund expenses for the new high-school project have accelerated; staff said bond-fund disbursements had increased from about $500,000 to nearly double that in a month and reminded the board the next bond payment will be in June for $1.7 million. Staff also reported that the lunch program enrollment and revenue are not trending as hoped, though federal funding has partially offset shortfalls.
In depreciation and activity funds, staff said technology-related purchases (iPad covers, cords) and seasonal shifts from winter to spring sports affected activity funds. The board asked about the district’s reported free-and-reduced lunch rate (quoted at 65% in a flyer); staff explained that direct certification via SNAP and other programs now automatically qualifies many families and that reporting methods have changed post-pandemic, causing higher reported percentages.
