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Business manager: audit underway, fund balance above $14.5M; board approves budget changes and fund designations
Summary
The district business manager outlined audit timing, revenue trends (including virtual school oversight fees and interest earnings), ESSER balances, and recommended fund balance designations. The board approved 2024 budget changes and designations and voted to enter closed session for personnel matters.
Jeff Mahoney, the district business manager, presented the financial update and led three action items at the McFarland School District board meeting.
Mahoney said the 2024–25 audit is in progress and that formal audit presentation usually occurs in November or December. He reviewed components underpinning the district fund balance and revenue assumptions for 2025–26, including virtual‑school oversight fees, interest earnings and grant timing. "We're just over 14 and a half million," Mahoney said referring to the district fund balance.
Mahoney summarized several revenue and expense trends: the district’s virtual program oversight fee (described in the…
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