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Board accepts September financial report showing $630,412.57 net loss
Summary
Board approved the September financial report after a staff presentation showing total income of $3,137,309.22 and a net loss of $630,412.57 for the fiscal year to date. Declines in federal and state capital grants and higher insurance and depreciation costs were cited as primary drivers. The board voted to accept the report by roll call.
The board accepted the September financial report after a staff presentation showing total income of $3,137,309.22 and a net loss of $630,412.57 for the year to date. Finance staff reported total bank accounts of $623,479.79 and said cash is down about $77,000 versus the prior year but had improved slightly from the prior month.
The presenter said receivables included $411,723.50 "due from federal" sources and $222,713.87 "due from state," both down compared with the prior year, which the presenter described as positive because it indicates grant payments are…
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