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District reports June financials: revenues up, Fund 3 flagged as tight
Summary
Finance staff reported preliminary June figures showing revenues above budget and 97% of legal fund budgets expended; the board was warned Fund 3 capital funds are constrained going forward.
Pulaski County Special School District finance director Miss Rowlett presented preliminary June financials at the Aug. 12 board meeting, telling trustees the district is finalizing accounts for fiscal year 2025 and that the state’s submission deadline is Aug. 31.
Rowlett said the district has collected more revenue than budgeted for the year, reporting that overall revenue is up about 3.4% and tax collections exceeded expectations by roughly $2.5 million (an 8.4% increase over the prior year). She told the board the legal ending balance (the balance the state reviews for fiscal health) is approximately $16.02 million. Rowlett said the district has expended roughly 97% of its budgets in the legal funds (Funds 1, 2 and 4) and is still completing accruals for the fiscal year close.
Separately, district facilities and finance staff cautioned trustees that Fund 3 (capital projects) is constrained. Facilities director Mike Johnson said several unplanned costs—including a $35,000 fence move and other project overages—mean the district has limited wiggle room in Fund 3 and staff urged the board to be cautious about adding additional capital commitments. Johnson and other staff noted anticipated Fund 3 receipts that administration expects to arrive in future months but said the fund remains tight at present.
Rowlett said personnel budgeting (about 85% of operating cost) is the largest driver of next year’s budget work; staff are compiling position and salary information to present a draft budget in September with the possibility of a special meeting to complete budget adoption.
