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Board hears finance update, major capital projects and plan to transfer funds to supplement cafeteria account
Summary
Board staff reported year-end closing work, listed several capital projects including gym HVAC and school ventilation, and said the district will transfer general-fund dollars to cover cafeteria deficits and write off uncollectible student meal balances.
At the May 16 meeting, the Cliffside Park Board of Education received updates from finance staff about year-end closing work and capital projects and discussed a transfer of funds to address a cafeteria fund deficit.
Officials told the board they are working on closing fiscal years 2024–25 and 2025–26 and noted three to four major capital projects, including a gym HVAC project and ventilation upgrades across multiple schools. Finance staff congratulated Toni Ann Lombardi for producing the district’s first bill list for the new year.
The board was told the food service fund is carrying a deficit because some meal charges are uncollectible when students graduate. The district plans to transfer money from the general fund to supplement the cafeteria fund and write off balances that cannot reasonably be collected. Board members and finance staff described the transfer as a standard year-end accounting step to correct the fund balance.
Speakers also noted petty-cash housekeeping: closing prior-year petty cash and opening new petty-cash accounts for the new fiscal year with a typical float of about $2,000; a rollover figure of $4.96 was referenced as part of the reconciliation.
