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Fairfield Union Local treasurer reports steady cash balance, higher meal counts and rising claims
Summary
The board received a financial forecast through March showing higher revenues from property taxes and increases in meal service counts, while health claims rose and food service operated at a year-to-date loss.
Fairfield Union Local Treasurer (presenting) reported the district’s financial position through March and briefed the board on insurance and food-service operations.
Treasurer Wallace said the district had received about $25,500,000 year to date compared with $23.7 million last year, with property-tax receipts up about 9 percent. State foundation payments were reported at roughly $10 million this year versus about $9.01 million the prior year; Wallace attributed some restricted fund increases to participation in Community Eligibility Provision (CEP) free-meal programs.
On expenditures Wallace reported total spending near $20.4 million compared with about $18 million last year, with the primary pressure in salaries and benefits as the district transitions away from federal ESSER funds. The treasurer projected an ending cash balance of roughly $22.7 million, down slightly from $22.8 million the prior year; the projection anticipates a year-end balance just under $22 million.
On insurance, the treasurer said revenue is up 5 percent while claims are up about 21 percent year over year, leaving the district with an approximate net deficit position of about $25,000 (reported as a year‑to‑date figure). Wallace said the district’s medical reserve remains healthy — just under $4 million — and indicated a slight premium increase is likely in the coming year once all claims are tallied through April.
Food-service figures through February show the district served almost 140,000 lunches and roughly 60,000 breakfasts for a combined total of about 225,000 meals — an increase of roughly 40,000 meals compared with last year. The district reported a year‑to‑date food-service loss of roughly $282,000 (projected to finish around $300,000 for the year) and an average per‑meal all‑in cost up by about $0.15 compared with the prior year. Wallace said the CEP free-meal expansion increased participation and state reimbursement but also raised net food-service costs.
Board members asked clarifying questions about the timing of tax receipts and the planned transfer to food service; the treasurer noted the board previously approved a $200,000 transfer from the general fund into food service and that an additional transfer of roughly $100,000 may be requested before year end.
Ending: Wallace said more definitive premium information will be available after all insurance claims are processed in April and the district will return to the board if further transfers are needed for food service.
