Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Business office reports operating‑fund position and clean fiscal‑year audit
Summary
The district reported operating‑fund actuals through Nov. 30, grant balances, school‑lunch revenues and other program results; external auditors issued a clean report for fiscal 2023–24 with no findings or recommendations.
The business office presented operating‑fund results through Nov. 30 and an update on grants, school lunch and extracurricular fund balances. Business office staff said operating fund expense actuals were $37,200,000 — 34.1% of a $109,000,000 full‑year budget — modestly higher than last year’s 33.8% due to timing differences in payments.
Grants awarded to date totaled about $331,600, with $308,000 spent and a remaining balance of roughly $1,778,000. School‑lunch revenue through November was reported at $996,000 (about 32.3% of a $3,086,504 budgeted figure), a year‑to‑year decrease of about $38,000. Food‑service expenses to date were roughly $845,000 (29.7% of budget), leaving a year‑to‑date net income of about $151,000.
Facilities rentals, donations and summer‑school figures were also reviewed; the presenter noted timing and reinvestment practices for facility rentals and said equipment and outsourced‑service savings contributed to recent decreases in expenses. The business office expects some retroactive contract payments in December.
External auditors KAP O'Connor Davies completed the fiscal‑year 2023–24 audits of both the town and the board of education and reported no misstatements, findings or recommendations — a clean audit opinion, the business office told the board.
Board members asked several clarification questions about facility rental rates, timing differences in budget recognition, and whether equipment or wiring from the current dome system could be repurposed in the planned upgrade.
