Laredo ISD reports $22.5 million in June disbursements; bond-expenditure rate lags at 73%

Laredo Independent School District finance staff told the board’s Business & Support Committee on Aug. 7 that June disbursements totaled $22,500,000, of which $17,100,000 were payroll and $5,300,000 covered other goods and services.

The presentation of unaudited financial statements for the fiscal year ended June 30 showed mixed results: tax collections for July–June were $36,200,000 (98.49% of the $36,800,000 budgeted), general fund revenues realized slightly above projection at about 101%, while expenditures overall were about 97.16% of budget. Miss Ayala, who presented the report, said the district’s payroll component remained the largest expenditure and that one-time payments and reclassification of positions from ESSER funds contributed to year-over-year expenditure increases.

Why it matters: Finance staff warned the board that the district did not meet an 85% expenditure threshold on certain projects (the report showed a 73.39% spend rate as of June 30). Miss Ayala said falling short of required expenditure rates could, in a…