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Finance director briefs board on November receipts, project timing and budget revision process
Summary
Finance staff reviewed the district's November cash-basis receipts and disbursements, cited large tax receipts and one-time project payments (LED project, temporary chiller rental), and summarized the budget-revision timeline leading to the board's later approval of the revised 2024'1025 budget.
Amy Schultz, presenting the district's monthly financial report and the proposed budget revisions, told the board that November is a large receipts month driven by property-tax collections and that the district's November disbursements included major project payments.
Key figures and timing noted to the board: - November tax receipts: staff said receipts were "almost $6.5 million." - State aid: approximately $2 million was recorded in November; staff noted the state times certain aid payments to offset months with large tax receipts. - One-time and timing-driven disbursements included a roughly $500,000 payment for the LED project and a temporary rental chiller at the high school costing about $100,000 per month; staff said the chiller will be replaced in the summer. - Other November costs included quarterly or annual payments such as property and liability insurance and regional service purchases.
On revenues and expenditures: Schultz explained the financial statements show year-to-date receipts and disbursements on a cash basis and that the budget revisions before the board reflect timing differences (for example, the district recorded a bond refunding in the audit back to the date of sale, which shifted some debt-service recording to the prior year).
Budget-revision process and timeline: Schultz walked the board through the district's budget calendar (fiscal year July 1'June 30), noting the original budget was adopted in June and that revisions are made as assumptions or project timing changes. Staff said the packet contains revisions for four major funds (general, food service, community education and debt service). During the presentation staff pointed out an upload error in the slide deck: the general-fund revised revenue figure in the presentation did not upload correctly and should read about $102,000,000; staff committed to correct the posted presentation.
Board next steps: Schultz and staff noted that the revised budget chart would be brought forward for formal action (the board approved the revised budget later in the meeting). Board members were reminded that planning for the 2025'1026 budget will continue through spring with a proposed budget expected at a May work session and final adoption in June.
