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District budget report: revenues lag budget but administrators expect to meet targets; fund-balance dispute with DRA continues
Summary
Administrators said April-to-date revenues and expenses track to budget and projected unassigned fund balance is under review; they reported the district has sought Department of Revenue Administration guidance about fund-balance retention and plans to engage legal counsel for further review.
The district’s finance presentation compared actual revenues and expenses through April 30 to both the previous year and the current budget. Administrators said revenue collected was $63.7 million as of April 30 against a $73.3 million budget (about 87% collected) and expenses incurred were $60.4 million, with projected year-end expenses around $79 million.
When a board member requested a rough estimate of unassigned fund balance, administrators outlined the calculation method used by the district—starting with prior-year unassigned fund balance, adding current revenues and subtracting expenses and transfers. Administrators said the district closed the prior year with an unassigned fund balance of about $16 million and provided a preliminary, rough estimate of an approximate year-end unassigned balance in the low‑ to mid‑double digits of millions, but emphasized final figures depend on year-end entries and town payments.
Separately, administrators updated the board on ongoing correspondence with the New Hampshire Department of Revenue Administration (DRA) about whether the district may retain a portion of fund balance under past warrant articles. The superintendent said the DRA has so far concluded Timberlane has “0% ability” to retain the specific fund-balance amounts requested; the district has submitted documentation including warrant articles and petitioner letters and has requested a management review. Administrators said the next step is to engage the district’s legal counsel to discuss the issue with DRA legal staff before returning to the board with findings. The superintendent emphasized there is no immediate operational impact and that the district will continue to seek resolution in the coming months.
Board members discussed revenue sources that are running above estimates—tuition for pre-K and kindergarten and higher interest income—and asked administrators to continue to monitor town payments and revenue lines through year-end.
