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Finance update: district tracks to projected surplus; audit and deficit-reduction plan remain active priorities
Summary
Officials reported updated monthly finances showing Medicaid revenue growth and an expected year-end surplus roughly equal to the deficit-reduction target; the FY24 audit is underway and will inform final deficit-reduction planning tied to town allocations.
School and town finance staff updated the committee on monthly finances, the FY24 audit and the district's deficit-reduction planning.
Chris (finance) and Superintendent Don Cowher described revenues and expenses through February and highlighted Medicaid performance discussed earlier in the meeting. The finance director said the district had realized roughly $830,000 in Medicaid revenue through February and increased Medicaid projections conservatively by $100,000; overall…
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