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CFO warns of possible state and federal holdbacks that could affect staffing and after‑school programs
Summary
CFO Brian Wallace said May finances are tracking to budget but flagged preliminary state guidance about 2–6% holdbacks and a federal notice about approximately $6.8 billion in Title I/II/IV withholding that could reduce grant funding for instructional coaches and after‑school programs.
Brian Wallace, the district’s chief financial officer, presented the May finance report at the July 1 Lake Pend Oreille School District board meeting and cautioned trustees about preliminary state and federal actions that could reduce grant revenue next year.
Wallace reported that year‑to‑date revenues and expenditures are tracking close to prior years. Enrollment finished the year up 27 students, and the district may slightly draw on fund balance as budgeted. He said the district has received most state revenue for…
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