Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Report topic
No spam. Unsubscribe anytime.
District reports nearly $18 million available in maintenance and operations; capital encumbrances ~$32.7 million
Summary
Associate Superintendent Bonnie Betts reported the district had an available balance in its maintenance and operations fund of nearly $18 million as of Jan. 31, 2025, an increase of about $1.9 million from the prior report after a timing correction; unrestricted capital year-to-date expended/encumbered stood at about $32.7 million.
Bonnie Betts, associate superintendent of business services, presented the Gilbert Public Schools monthly financial report for the period ended Jan. 31, 2025, at the Feb. 25 board meeting.
Betts told the board the maintenance and operations fund showed an available balance of nearly $18,000,000, an increase of about $1,900,000 from the prior month because staff had corrected a timing issue that duplicated payment and encumbrance for a mid-January appreciation stipend. She said that correction had been made and that the resulting balance reflected the fix.
On unrestricted capital outlay, Betts said year-to-date expended and encumbered amounts were about $32,700,000; she noted that encumbrances include projects on the consent agenda and that the district had set a deadline of Feb. 21 for final unrestricted capital purchase orders from schools. Betts said the reported expended/encumbered figure could rise when the district reports February activity in the next monthly update.
Betts offered board members a printed Annual Comprehensive Financial Report at each seat and said she was available to meet with trustees for deeper review. Board members asked no substantive follow-up questions during the presentation.
What happens next: the district will include any additional February encumbrances and expenditures in the next monthly report and will continue to monitor project encumbrances associated with capital spending.
