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Board accepts July 2025 financial report; audit update provided
Summary
The PCSD board approved the July financial report after staff presented first-month revenue and expenditure figures and an audit update; staff said the district sent most state aid to schools and expects an increase in state revenue after the five-day membership update.
The PCSD board voted to accept the July 2025 financial report at its Sept. 11 meeting after a presentation by the district—financial team.
Financial highlights: The district reported that, through July 31, it had received just over $18,000,000 in revenue and recorded expenditures of a similar amount, yielding a small net income figure. The district office reported roughly $475,000 in revenue and $472,000 in expenditures for a month net of about $2,354, increasing the estimated fund balance slightly. The report noted that, of the district's total state allocation (presented as approximately $255,700,000 for the fiscal year), approximately $254,300,000 (about 99.44%) is recorded under the state aid to classrooms line and that the five-day membership update in September will increase state revenue line items.
Audit update: The finance team reported audit-preparation work is on schedule. Staff said weekly communications have been sent to schools regarding the Oct. 15 submission deadline, sample testing (including Title I samples) has been provided, and fieldwork is scheduled to begin Oct. 6.
Board action: A motion to accept the July financial report was made, seconded and approved by voice vote. Trustees asked clarifying questions about donation reporting (none recorded in the general fund for July) and changes in line-item expenditures due to bringing certain services in-house.
Ending: Staff will present a fuller September update after the membership update; audit fieldwork is scheduled to begin in October.
