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District financial report: $3.5M state payment boosts cash flow; legislature’s testing-funding decisions leave costs uncertain
Summary
District staff reported a $3.5 million state payment improved the district's cash position; board discussed the state legislature's pending budget actions that eliminated funding for the statewide ACT and pulled NSCAS funding, leaving potential costs for local districts uncertain.
At the May 12 Board of Education meeting, district finance staff reported financial gains following a $3.5 million payment from the state and described stronger cash-flow and asset positions compared with the prior year. Board member Skip Baltic provided an update on the state legislature that followed, warning of continued uncertainty over funding for statewide testing that could shift costs to local districts.
District staff said the state payment has improved the district’s fund balance and cash flow. The presenter reported the district’s assets had increased to about $2,300,000 at the end of the reporting period, compared with…
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