Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Finance topic
No spam. Unsubscribe anytime.
Muskogee schools finance director reports midyear adjustment, tax receipts and contract items
Summary
District finance staff told the board general-fund revenue was lower in December compared with the prior year because of a timing difference in federal claims; the district received property-tax revenues in early January and a midterm state adjustment of about $700,000. Several vendor contracts and PO items were presented to the board.
A finance presenter provided the Muskogee Board of Education with the district’s December finance overview, explaining differences between FY2023–24 and FY2024–25 and outlining several contracts and purchase orders requiring board attention.
The presenter said general-fund revenue for December 2024 was lower than the same month the prior year, attributing that primarily to federal claims that arrived in December the prior year but were not received this December. He stated that total expenses were higher in the current year in part because the county assessor revaluation expense was paid from the general fund rather than the building fund this year.
The presenter told the board that the district had returned to positive cash after the first half of property taxes were received on Jan. 3: he characterized the general fund balance as about $5.6 million and said the county’s total property-tax remittance to the district for the period was roughly $12 million, much of which is sinking-fund tax revenue. He also reported a midterm state funding adjustment “a little over $700,000,” which the presenter said will help the district’s position this year. The speaker noted child-nutrition reimbursements have increased and that the CARES funding cycle has ended.
The presenter reviewed fund-specific revenue and expense trends and said FY24 ended with CARES expenditures that do not recur. He described a series of presented contracts and purchase orders: a lease-purchase payment for band equipment and wheelchairs (payment 2 of 5), a stage rental PO for graduation, a no-cost Department of the Air Force Junior ROTC agreement, an NSU teacher-candidate internship agreement at no cost, an amendment to a Department of Rehabilitation Services school-work-study program and a contract with Object Technology Solutions to migrate data off a vendor server.
Board members asked for clarifications on cash-flow timing and the midterm adjustment. The presenter said the district’s overdraft agreement with the bank has ended and that cash should be positive for the remaining months of the fiscal year, though “it’s gonna be tight.”
