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St. Charles CUSD 303 financial snapshot: revenues up year-over-year; Mid Valley revenue boosted by playground project
Summary
Committee reviewed preliminary year-to-date financials showing district revenue trending slightly ahead of last year and expenditures lower overall. Mid Valley site reported revenue trending well ahead of last year and slightly higher expenditures due to an updated playground.
District staff opened the Business Services Committee meeting with preliminary financial reports for the fiscal year and said it is still early to identify major trends but highlighted several points. Total district revenue is trending at about 40.97% of budget versus 38.59% at the same point last year; dollar-for-dollar revenue is roughly 8.6% higher than last year.
Salaries and benefits are tracking close to last year's pattern, at roughly 14.95% of budget compared with 14.87% in the prior year. Overall expenditures are currently lower year-over-year in percent-of-budget terms (18.34% versus 21.32% prior year), a difference staff attributed in part to last year's elevated construction spending.
Staff also presented Mid Valley's internal report: revenue there is showing 76.4% of budget year-to-date versus 54.4% in the prior year; expenditures are slightly higher than last year and that variance is mainly due to costs for an updated playground. Staff said there are no other immediate areas of concern.
Committee members asked for questions; none were raised at the meeting.
