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District audit shows stronger net position; board approves policies and consent items
Summary
Chief Financial Officer presented an audit showing increased net position and noted bond and fund activity; the board approved the consent agenda and a third-reading set of policy revisions during roll-call votes.
The School District No. Re-3 Fort Morgan chief financial officer presented highlights from the district audit during the Jan. 6 meeting and said the audit has been accepted by the Colorado Department of Education and the federal clearinghouse.
"When you look at this, it says general fund in that first column... the combined fund ... total is 13,500,000 which for this year was an increase of 22,600,000," the CFO said, summarizing the district’s net position and noting that the building fund’s activity reduced overall fund balances by about $690,000 as construction expenditures began.
The CFO said the district is paying five outstanding bonds and reported a balance of $23,400,000 in bonds outstanding. She also noted timing-related explanations for quarter-to-date figures: a general fund surplus of about $1.3 million tied to revenue timing, higher HVAC expenditures driving some overages, curriculum purchases reflected in staff-support accounts and timing effects in food-service and bond funds.
During the meeting the board approved routine items by roll call. The minutes from Dec. 9 and Dec. 18 were approved, the agenda was approved and the consent agenda was approved. Later in the meeting the board voted to adopt district policy revisions on third reading.
Roll-call votes were recorded on the transcript for each action. The transcript records yes votes from board members including Chris Brown, Nancy Hopper, Katie Jansz, John Covey (or Potti in one roll call record), Judy/Wendy Smith and Sarah Lee/Whitney, among others. The board chair called the meeting to a close at 7:42 p.m.; the board set the next meeting for Jan. 27 at 7 p.m.
