Tumwater budget report shows low general fund cash balance; staff to bring smaller loan resolution

Assistant Superintendent Ben Merrick reported to the Tumwater School District Board that the district ended September with a low general fund cash balance and that staff will present a resolution for a slightly smaller loan amount than in prior years.

"A couple of few facts. The first is we ended September with a fund balance of $872,000, but we ended with a cash balance of $279,000," Merrick told the board during the budget status update. He said the report covers results through September and that most board attention is on the general fund of the district's five funds.

Merrick said overall enrollment in October is down compared both with the district's budget projection and with the past three years, and he urged the board to wait another month for firmer figures before making larger adjustments. He also cited the prior year-end totals, saying, "The fund balance came in right around 3,400,000.0 for the year, and the cash came in with about 7,000,000," as context for the current month-end balances.

Board members asked about an interfund loan the district typically adopts each year. Merrick said staff will bring a resolution for a slightly lower loan amount than in previous years. "We will bring you a resolution, with a slightly lower loan amount because that is the original direction," he said. He characterized the change as low-stakes operationally and said staff were confident about revenue prospects, noting it likely will not materially change operations.

No formal board action or vote on the loan occurred at the meeting; Merrick closed the presentation and invited questions.

The board received the presentation as an informational update and directed staff to return with the loan resolution for formal consideration at a future meeting.