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Board hears state funding updates and May financial report; district flags grants and timing issues
Summary
Board members and finance staff said some state-level cuts and uncertainties are affecting program funding; the business manager presented a May report with several one-time revenues, an available ABL security grant, and timing changes that affect bond and CET balances.
Phoenix-Talent SD 4 finance staff and board members discussed state funding uncertainty and a May financial update during Thursday's meeting.
State funding and advocacy: Board members said the Oregon School Boards Association (OSBA) update indicated cuts to early childhood programs and pressure on some grant programs. The superintendent said some items have passed and "are going to be a challenge to our districts," and she plans to attend the American Association of School Administrators (AASA) advocacy conference in Washington, D.C., in July to press for continuation of a mental-health grant the district expects to lose in December.
May financial report and grants: The district's business manager presented May estimates and noted several items that could affect final numbers after the audit. Highlights presented to the board included an available ABL security grant (the district may claim funds for next year), an estimated $75,000 in interest and a projected PSE/PSE revenue item in the range of $215,000–$300,000. The business manager said some figures are finalized while others may change slightly after audit adjustments.
Bond, CET and project timing: The business manager reported a lower-than-expected bond fund balance (about $100,000 less than anticipated) because of invoices for finishing projects including tennis courts. The CET (Construction Excise Tax) fund shows a higher balance than in March because completion of the TMS solar project is delayed to July or August; as a result the district removed $322,000 from June estimates and now projects about $674,000 available.
Ending: Staff said they will continue to finalize figures in the audit process and will return with more detailed numbers as they are available. Board members encouraged continued monitoring of grant timing and the potential loss of specific state grants.
