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Finance report: July FY26 receipts limited by accruals; fund balance supports operations until property-tax revenues
Summary
The board reviewed the district's July FY26 financials. Finance staff said July activity was light because many payments were accrued to June; the district reported total assets of about $83 million, liabilities of about $10 million and a general fund balance near $72 million.
Miss Meunier, director of finance, presented the district's first-month financial report for fiscal year 2026 at the Aug. 25 meeting.
Meunier told trustees that July activity is typically light because many July payments are accrued back to June. She said the district received the first state aid classroom payment for the year and that figures are based on the district's 130 fifth-day counts.
On the balance sheet, Meunier reported total assets of about $83,000,000, total liabilities of about $10,000,000 and a fund balance near $72,000,000. She said those fund-balance amounts keep the district operating until property-tax revenues arrive in December.
Meunier noted the district's $300,000,000 budget for the year and emphasized that most spending is salaries and benefits. She acknowledged that the teacher salary scale adopted for the year was lower than the board had hoped but described the budget as constrained by large fixed personnel costs.
The report showed revenues at about 95% and expenditures at about 98% relative to internal timing benchmarks for the first month; Meunier said projected numbers for August through June were included in the packet. Board members discussed plans to improve the public presentation of finance reports and scheduled a finance-committee meeting to review reporting formats.
No formal action was taken; the presentation was informational and included in the board packet.
