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Finance staff: May statements look on track; business office to shift to accrual accounting for fiscal close
Summary
Finance staff presented May financial statements with no major concerns and outlined a transition from monthly cash-basis reporting to accrual/modified-accrual accounting during June–August, with auditors scheduled in September and combined July/August statements to return in September.
Speaker 3 presented the district's May 25 financial statements and told the finance committee there were no significant concerns. He flagged food-service activity on special revenue and said the general fund is "tracking as expected." He described substantial month-end work to close the fiscal year.
Speaker 3 explained the district will stop issuing the monthly cash-basis financials for June and instead transition the business office…
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