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MSBA reviewer: late federal claims and inaccurate projections left St. Joseph reserves far below budgeted level
Summary
Linda Quinley of the Missouri School Boards Association told the St. Joseph School District Board that late claiming of federal Title reimbursements and large variances between the June budget projections and actual expenditures left the district with about 10% reserves instead of the 20% shown in the budget; she recommended regular check-ins, clearer variance reporting and a multi-year plan.
Linda Quinley, executive finance director of the Missouri School Boards Association, told the St. Joseph School District Board on Monday that an external review of the district's June 30 financial position showed late federal claiming and large budget-to-actual variances were the primary causes of a surprise drop in reserves.
"This is not an external audit," Quinley said as she opened her presentation, clarifying the work was a review of publicly available, verifiable data and not an audit of the district's books. She said the review focused on four drivers: student counts (ADA/WADA), assessed valuation and levy, federal funding trends, and operating reserves.
Quinley said average daily attendance declined by about 1,236 students; weighted average daily attendance declined by 857 (or 771 when compared with the 2019 baseline). "As student count and student attendance decline, the revenue has significantly declined from the state," she said, and estimated the district now receives about $2.8 million less in state revenue since 2019-20 (about $560,000 a year…
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