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North Clackamas projects $72.5 million ending fund balance; board warned margins tightening
Summary
Finance director reported a projected ending fund balance of approximately $72,500,000 for the quarter ended Dec. 31, 2024, while noting narrowing gaps between revenues and expenses and monitoring potential drivers such as enrollment and PERS costs.
The North Clackamas School District’s executive director of finance and business services told the board on Feb. 27 that the district projects an ending fund balance of about $72,500,000 for the quarter ended Dec. 31, 2024 and that revenues and expenses are in line with expectations for this point in the fiscal year.
Why it matters: The district’s reserve position supports operations and capital planning, but staff told the board the margin between revenues and expenditures is tightening and will be monitored as state funding and personnel costs evolve.
Highlights of the report Matt McCarra, executive director of finance and business services, reported the projected ending fund balance and said staff will continue to monitor effective enrollment, state school fund updates, and personnel‑cost trends for potential inclusion in the next quarterly report. He said no forecast changes were necessary at this time.
The board packet also included an investment report listing types of investments, maturity dates and the funds holding each investment.
Board questions and clarifications Director Wachter asked whether the reported 20.77 percent projected fund balance as a percent of revenue is moving up or down; McCarra said the gap between expenses and revenues is tightening relative to prior years but that the district is not deficit spending. The board discussed a $12 million difference in ending fund balance compared with prior years and a smaller $300,000 change noted between quarterly reports that reflected final audited numbers. McCarra said he would check details as needed and reiterated that the forecast remains within expectations at this time.
Next steps Staff will continue monitoring enrollment and state funding developments and return updates in future quarterly financial reports. No budget adjustments were made at the meeting.
Ending Board members thanked the finance team for the routine quarterly update; no action was taken.
