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Finance committee approves December 2024 monthly financial report
Summary
The Manitowoc School District Finance Committee reviewed and approved the district’s December 2024 financial statements, with staff explaining timing of special-education reimbursements.
The Manitowoc School District Finance Committee on Jan. 6 approved the district’s monthly financial report for December 2024 after a brief review of key items.
Finance staff member Mishkin told the committee that the district’s special-education account showed a temporary negative balance on the financial statements because reimbursements and claims processing are timing-driven. "What happens special ed we start getting special ed dollars coming in," Mishkin said, explaining that some reimbursements will post later when claims are processed and that state and federal IDEA reimbursements typically arrive on a delayed schedule.
Committee chair Keith Shaw asked when reimbursements typically arrive; Mishkin replied that reimbursements are claim-based and that funds for the year are often received in July when the claims are processed. After that explanation Shaw asked for a motion; the committee moved, seconded and approved the monthly finances by voice vote.
Committee members said overall financials were comparable to previous years and that staff would make standard journal entries and continuing claims adjustments as reimbursements post.
The approval authorized routine budget and payment activity as reflected in the December financial statements; no further action was taken at the meeting.
