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Finance director reviews budget updates; board ratifies district Annual Financial Report
Summary
Finance director Brenda Guerra presented monthly updates on maintenance-and-operations and capital budgets, and the board ratified the district Annual Financial Report by roll call. Staff said M&O and capital budgets were about 16% expended to date and reported a student-activities cash balance.
Brenda Guerra, the district director of finance, presented the board with the monthly maintenance-and-operations (M&O) and capital budget updates and the monthly student-activities fund report.
Guerra noted that the district had revised budget figures during the prior month and that the updated M&O grand total shown in the board packet is $106,000,976. She reported the district has spent about 16 percent of that M&O total to date. The capital budget shown in the packet was reported as $11,087,304, with roughly 16 percent expended to date. Guerra also reported the district student activities fund ending cash balance as $735,577.66.
Neil Brown presented the Annual Financial Report (AFR) and explained the AFR records final fiscal-year activity and becomes the basis for carryovers used in the next year’s budget. Brown walked the board through AFR pages showing fund-by-fund revenues and expenditures (M&O, capital, federal and state grants, food service), fixed assets and bond-closing details. He said the district has established a board policy to hold a mandatory reserve and that the AFR will inform carryover planning.
The board ratified the AFR by roll call; the vote was recorded as four ayes and no nays. Brown and Guerra said the carryover figures and reserve levels will be incorporated into the next fiscal-year budget documents.
Board members asked clarifying questions about specific AFR line items such as civic-center revenues (rentals and cell-tower leases) and reimbursement-based grant funds. Finance staff said some negative balances in grant lines reflect timing and reimbursement accounting and that revenues are expected when reimbursements arrive.
No further action was taken beyond ratification; staff will return with budget documents that incorporate AFR carryover figures.
