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CFO reports year-to-date revenues, warns June payroll timing will make June numbers look "wonky"
Summary
Chief Financial Officer Ms. Brayden reported year-to-date revenues of $57,175,484 and expenditures of $50,187,005, warned of an atypical June payroll timing that will inflate June expenditures, and said available board funds were approximately $361,505.21 as of March.
Chief Financial Officer Ms. Brayden presented the board with the district's year-to-date financial picture: revenues of $57,175,484 and expenditures of $50,187,005. She told board members there will be no TISA payment in May and cautioned that in June some staff who do not work a full 260-day calendar will receive an extra month of payroll recorded in June, making June's numbers appear atypical.
Brayden said the district had approximately $361,505.21 in board funds available as of the end of March but noted that trustee commission true-ups, which she said can run at least $200,000 a month, and other projected expenditures will significantly reduce that balance. She recommended the board not assume a large available cash balance and offered to provide a projected year-end fund balance that accounts for committed expenditures and payroll timing.
Board members asked for a more accurate projected fund balance that includes expected remaining expenditures through the end of the year. Brayden said she could provide that forecast for the next meeting so the board could see a truer picture of funds available for emerging priorities.
