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Finance director reports Q2 spending up; audited fund balance $13.1 million, projected year-end narrower
Summary
The district’s Q2 financial report showed a final audited fund balance of $13.1 million (about 10.3% of budgeted expenditures) and a preliminary projection of a $3.78 million ending fund balance for the current fiscal year, driven by higher staffing and special-services costs and near-term expenditure patterns.
A staff member presenting the district’s second-quarter financial report explained that the district’s final audited ending fund balance for the prior year is $13,100,000, representing 10.3% of the budgeted current-year expenditures. The presenter said the board’s earlier preliminary unaudited number differed by less than $150,000 from the final audited figure.
The presenter described a preliminary projected ending fund balance for the current fiscal year of…
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