Finance staff told the Warren Co. R-III Board of Education the district is carrying lower revenues this month compared with last year and higher operating costs, but staff said they expect tax receipts to reduce the shortfall next month.

"We're about $1,400,000 less this month than we had this month last year," a finance staff member said, attributing most of the variance to delayed tax billing and later county processing.

The presentation said revenues were down about 3% overall compared with the same month last year and that operating expenses rose because of higher salaries and notably increased property insurance costs. The staff report said federal COVID-related funds received in the prior year will not recur; the presenter referenced a last-year COVID-related figure when explaining federal revenue declines.

Staff said fund balances showed a roughly 24% drop compared with last year; they noted the district had recently made a large payment for buses, which reduced Fund 4, and that the shortfall should ease when property tax payments arrive from the county. The presenter said the district had approximately $8,000,000 in available funds "before we need more money" and that they anticipate balances to rebound a month after tax payments are processed.

Board members asked clarifying questions; the finance presenter said the district will monitor balances and provide updates at the next monthly report.