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Finance director outlines January report: fund balance dipped before tax collections, federal reimbursements pending
Summary
Finance director Shickling reported steady monthly expenditures, a drop in fund balance from 29% to 16% before tax collections, and recent submission of federal reimbursement claims for two quarters, requiring the district to float federal costs until reimbursements arrived.
Finance director Mr. Shickling presented the district’s January financial report and a budget overview during the Feb. 10 meeting. He said aggregate revenues for the month were just under $15 million with expenditures around $10.7 million and that monthly payroll remains the dominant recurring expense.
Shickling explained the district’s fund balance decreased from about 29% at the start of the fiscal year to about 16% by December, primarily because the district spends cash to operate before property tax collections arrive in January. He said the district had to “float” millions of dollars of federally funded salaries and benefits because federal grants are reimbursed on a reimbursement basis; claims for Q1 and Q2 had been submitted in the prior week.
The finance director said capital projects and purchase order activity continue and described the need for prudent fund‑balance management to maintain cash flow. He also previewed a subsequent presentation showing state funding formula mechanics, local millage comparisons and the district’s relative share of state aid versus local capacity.
