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Beloit School District reports $15 million December inflow; committee forwards monthly financials to full board
Summary
District business staff told the Business Operations & Finance Committee on Feb. 4 that December revenues — driven by large state equalization aid — outpaced expenses by about $15 million, improving days of liquidity to 35; committee voted to send the monthly financial report to the full board.
The Beloit School District’s Business Operations & Finance Committee heard a monthly financial report Feb. 4 showing revenues for December greatly exceeded expenses, driven largely by a December state equalization aid payment and one-time reimbursements. Committee members voted to forward the report to the full school board.
Tom Chaney, speaking for the district finance team, told the committee that total inflows for December exceeded outflows by roughly $15 million. He said general fund revenue for the month was about $20.8 million, while general fund expenditures were just over $5 million. Chaney said the district typically sees several high-revenue months each year when state aid is paid, and…
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