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Finance office reports early fiscal‑year snapshots and introduces facility fee accounting
Summary
VP of finance Christine Goldsmith presented July–August fiscal snapshots for FY26, noted a reporting lag tied to the district rainbow report, and explained the new $36 per credit facility fee appearing on tuition and on expense reports. The board approved the finance report by voice vote.
Christine Goldsmith, vice president of finance, presented an early fiscal‑year review for fiscal year 2026 covering July and August activity as captured in district reports. She said the materials reflect approximately 16% of the fiscal year and highlighted $1.2 million in early revenue and roughly $6 million in outflows in the materials provided to the board.
Goldsmith explained that a newly itemized "facility fee" of $36 per credit has been added to tuition and fees reporting and will appear as a separate expense category on year‑to‑date outflows; she said the fee can represent a meaningful sum for full‑time students and that staff added it to give the board a fuller picture of tuition/fee revenue. She noted the largest ongoing expense category remains payroll and benefits and that some equipment purchases and reimbursements carried forward from the previous fiscal cycle appeared in July figures.
Board members asked clarifying questions about the timing of the "rainbow report," the July/August close and the equipment reimbursements; Goldsmith explained reporting lag and said several one‑time equipment purchases shifted into the current reporting period. The board moved and approved the finance report by voice vote.
