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Tempe board approves revised FY 2023–24 annual financial report to capture unused grant funds
Summary
The governing board on Jan. 22 approved a revision to the district’s FY 2023–24 annual financial report to move roughly $300,000 in preschool grant expenses and about $29,000 in software-license coding items into grant accounting, increasing community education cash by about $220,000 and carryforward at one site by about $80,000.
The Tempe School District governing board on Jan. 22 approved a revision to the FY 2023–24 annual financial report (AFR) to reallocate unspent or miscoded grant dollars.
Mr. Thompson explained staff discovered remaining preschool grant funds (about $300,000) and a coding issue on roughly $29,000 in software-license expenditures that previously prevented reimbursement from the Arizona Department of Education. By moving eligible expenses into the grant period, the district expects to increase cash in the community education fund by about $220,000 and increase carryforward at GATS by about $80,000.
Thompson told the board auditors are aware of the change and that the adjustment is intended to maximize reimbursements and ensure proper accounting after a recent Governmental Accounting Standards Board change in accounting for some technology agreements. Trustees asked whether it was appropriate for members who were not present during the original AFR approval to vote; staff advised members could vote on the revision.
The board approved the revised AFR on a 5-0 vote.
What happens next: The district will file the revised AFR and continue to work with ADE and auditors to secure reimbursements and update coding as needed.
