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Rochester school board hears financial report; members press for details on Oracle implementation and cash burn
Summary
The board reviewed an unaudited financial report showing $277 million cash on hand at year-end and raised questions about Oracle implementation costs funded from ARPA, procurement transparency and charters’ BEDS-day enrollment effects.
At the Jan. 23 board meeting, district finance staff presented the unaudited financial report and answered commissioners’ questions about cash flow, grants and the district’s enterprise resource planning rollout with Oracle.
Chief financial presenter Mike Mahaney told the board the district ended November with $257 million in cash, received $107 million in receipts and transfers in December and disbursed $87 million in the month, leaving roughly $277 million on Dec. 31. The district has received about $297 million to date—roughly one-third of projected revenues—Mahaney said, and noted the district typically receives a large state payment at the end of January.
He detailed special-aid changes…
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