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Board hears monthly finance report showing slightly lower local revenue and steady capital balances
Summary
Finance staff briefed the board that operating revenue is lagging local expectations, operating expenses and insurance costs are up slightly, and capital/bond fund balances remain available for planned projects.
District finance staff presented the monthly financial report, noting a modest lag in operating local revenue and higher operating expenses driven in part by rising insurance costs.
The presenter (identified in the meeting as Greg) said local revenue was a few hundred thousand dollars behind what was expected for the time of year, while state funding reflected additional equalization funding and federal receipts for special-education claims were catching up. Operating expenses were up slightly, with insurance cited as a notable increase.
The report showed a projected year-end fund-balance position around 38–39 percent under current assumptions. The capital fund (Fund 4) held about $1.3 million in the bank at the time of the report. Bond proceeds remained available: the presentation listed roughly $9.9 million received with about $8.8 million remaining after approximately $1.0 million in spending to date.
No board action was taken on the finance report; trustees asked clarifying questions and accepted the monthly report as presented.
