Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Finance Budget topic
No spam. Unsubscribe anytime.
Unaudited year‑end numbers: MMSD used less fund balance than budgeted; auditors on site
Summary
Chief finance staff reported the district used roughly $13.9 million of Fund 10 balances—about $8.4 million less than the June budgeted draw—leaving an unaudited ending balance near $100 million; independent auditors were on site to finalize the audit.
Finance staff provided an abbreviated report on unaudited fiscal‑year 2024–25 Fund 10 balances and the outlook for the 2025–26 budget.
Bob (finance staff) told the board the district’s actual use of fund balance for 2024–25 is approximately $13.9 million, compared with the budgeted fund‑balance use of $22.4 million; that difference represents about $8.4 million less use of reserves than anticipated in the June budget. He said the district’s unaudited ending Fund 10 balance is roughly $100 million and that the independent audit team was present in the district this week to complete the formal audit review.
Bob cautioned the board that the coming state budget and categorical reimbursement decisions (including special‑education reimbursement percentages) remain important variables for the 2025–26 budget. He said staff will bring a fuller update to the September operations work group, including recommended assignments or reserves, cash‑flow borrowing needs and updated enrollment estimates once summer enrollment and state guidance are finalized.
No formal budget decisions were made at the meeting; staff requested time to finalize audited figures and to present a more detailed fund‑balance and cash‑flow plan in September.
