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Tahlequah board approves monthly financial reports after state midterm boost
Summary
The Tahlequah Public Schools board approved its monthly financial reports and recorded a midterm state adjustment that added roughly $1.2 million plus additional state textbook and interest amounts to district appropriations.
The Tahlequah Public Schools Board of Education voted to approve the district's monthly financial reports and incorporate a state midterm appropriation that added roughly $1.2 million to the district's available appropriations.
The midterm adjustment increased the district's reported revenues above the original appropriations; in the board discussion staff said the district also recorded about $8,300 more in state textbook funding and included roughly $318,000 in interest earnings in the supplemental appropriation. District staff said they had moved $5,000,000 into a different account to earn interest temporarily and will move it back when needed.
Deputy district finance staff reported the bank balance on Jan. 31 and provided fund-level totals: a general fund balance reported at about $9.3 million and a building fund balance reported at about $5.35 million. Officials said the supplemental appropriation is intended to show a $5 million carryover target in the district's appropriations and that additional state allocations received after the original budget can be added into the accounting during the year.
Board members asked clarifying questions during the presentation about how midyear adjustments and interest are reflected in the budget and how the district treats COVID-era carryovers. Staff said monthly and midterm adjustments are applied so the district can display the carryover goal and be transparent about current resources.
The motion to approve the monthly financial reports carried on a voice/roll-call vote recorded during the meeting.
