North Wasco CFO reports positive fund balance, $38.5M encumbrances and $1.8M tax anticipation note

Dan Peterson, the district’s chief financial officer, told the board that North Wasco County School District 21 is solvent and has a positive ending fund balance for 2024–25, but that encumbrances and seasonal cash‑flow timing are notable concerns.

"If you look ... our assets exceed our liabilities. We have a positive ending fund balance so we're solvent and that's good," Peterson said. He explained that, by governmental accounting rules, encumbrances — contracts and commitments recorded on the books — total just over $38,500,000. Peterson described September and October as difficult months for cash flow as back‑to‑school expenses arrive while certain revenues, including county property tax receipts, are not yet received.

Peterson said the district has a tax anticipation note of approximately $1,800,000 that will be repaid when county property tax funds arrive in November. He also flagged several local grant lines (including Google‑related funds and SIP/enterprise zone monies) where timing and amounts remain uncertain; he has requested a schedule and amounts from the county assessor.

On expenditure lines, Peterson noted some overspending in the 230 funds (local grants/enterprise programs) and said staff will move money from the general fund if necessary and report back with specifics. He also reminded the board that finalized 2024–25 financials are pending the district audit; the figures in the packet were not materially different from the previous month.

Board members asked for follow‑up details on which grant line items were overspent and requested the schedule from the county assessor on local grant payments. Peterson said he expected county tax receipts to begin in November and reiterated that, overall, the district is on track but monitoring cash flow closely.