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Finance director reports clean audit, rising PERS costs and planning for supplemental budget as enrollment trends fall
Summary
Marina (district finance staff) reported a completed audit with no findings, a healthy beginning fund balance and upcoming supplemental budget work to spend special revenue by June 30. She also alerted the board to significant PERS rate increases and declining enrollment estimates.
District finance staff reported a completed audit with no findings by the Dec. 31 deadline and said the general fund began the fiscal year with roughly $445,000 more than budgeted. Staff warned the board that Public Employees Retirement System (PERS) rate increases will raise employer costs materially and that enrollment declines will reduce state revenue.
What happened Finance staff reported that most deposits were posted by Dec. 31 and that the audit was submitted “with no errors or findings.” The report noted a higher-than-budgeted beginning fund balance in the general fund and a larger beginning balance…
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