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Finance director outlines year-end close: May statements presented, office to switch to modified accrual reporting for audit
Summary
Business office staff presented May financial statements, explained ongoing food-service impacts, and told trustees the office will switch from monthly cash-basis reports to the district’s modified accrual reporting for the annual audit; combined July/August statements will appear in September.
Business office staff presented the district’s May financial statements and outlined work needed to close the fiscal year and prepare for the annual audit.
Mr. Chris (business office) said the May statements show the General Fund tracking as expected and noted ongoing activity in food service that appears on special revenue funds. He explained that June and July financial activity are affected by timing…
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