Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finance topic
No spam. Unsubscribe anytime.
Yakima SD finance director says cash and budget-to-actuals are tracking as projected; substitutes and legislative uncertainty remain risks
Summary
Jake Cooper told the board cash flow and budget-to-actuals were close to projections for December, highlighted a $4 million float in cash planning, and warned that substitute pay and legislative outcomes could materially affect the district budget.
Jake Cooper, Yakima School District chief financial officer, told the board on Jan. 21 that the district’s cash position and budget-to-actual results for December are tracking near projection and that a $4 million float built into cash planning remains in place to ensure liquidity.
Cooper explained the district’s tax collection cycle produces two major revenue spikes—fall and spring—and that January sits in the fiscal trough that commonly represents the year’s lowest cash balance. He said that if the trough remains near its current level through March, it will likely signal the fund-balance low-point for the fiscal year.
Cooper said budget-to-actuals were “right on the money” for most lines and that his office has tightened budget controls. He noted the district’s overall budget is large—about $300 million—and that monthly predictability is a key objective. Cooper also summarized more volatile components, including MSOC (materials, supplies and operating costs) and utilities, which can shift month to month.
On personnel-related pressure points, Cooper highlighted substitutes and noted state funding only partially offsets district substitute expenses; he said substitute costs are a major statewide issue. “The stat for us is 400,000 in state funding, 7,000,000 in district expense,” he said, identifying substitutes and unfunded classified staffing as substantial budget drivers. He added that legislative action on levy or LEA proposals and on full funding for special education remain major unknowns that could swing the budget by millions.
Cooper also described an enrollment reporting nuance: the AOE (Alternative Online Education) and the skill center reporting relationship contributed to short-term projection variances; Cooper said approximately 593 AOE students were included in the graph he showed and that enrollment shifts typically resolve over the year.
No board action was taken on the financial presentation; Cooper said the district will continue monthly reporting and refinement of staffing and reduction plans in light of legislature activity.
