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District reports stronger year-to-date finances but flags $1M textbook-rental shortfall
Summary
Administrators reported a roughly $378,000 increase in overall fund balance year over year but flagged a roughly $1 million negative textbook-rental balance that the board must decide how to cover before year-end; options include using fund balance or rainy-day reserves.
District administrators opened the financial review with a third-quarter snapshot that showed higher fund balances compared with the same point last year but also highlighted a specific liability tied to textbook rental accounting.
“...our fund balance for all funds has increased by 378,000,” the presenter said, adding the district is roughly $400,000 ahead of the same time last year. The finance review…
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