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Board approves preliminary close‑of‑period budget showing higher fund balance
Summary
Trustees approved the district budget after a period‑11 review showing a $105.5 million all‑funds balance and a projected ending operating fund balance of about $53.4 million, with board members noting timing of property tax receipts affects final numbers.
The Bentonville School District board voted Wednesday to approve budget actions after a period‑11 financial review that showed stronger year‑over‑year revenue and a projected year‑end fund balance.
Dr. Schwannhauser reported the district's all‑funds balance at $105,500,000 — up $4,700,000 from the prior year — and operating revenues at $240,500,000, an increase of $14,900,000. "Right now, our revenues exceed our expenditures by $40,900,000, giving us a fund balance of $80,300,000 or 32.1%," he said, noting that timing of May property tax receipts typically inflates the balance at this point in the fiscal year. He projected the ending operating fund balance to be about $53,400,000 (roughly 20.9%) when the fiscal year closes June 30.
Schwannhauser cautioned that assumptions about how much tax revenue has been received (he said the district assumes 94% but historical experience could be 87%) affect available balances and that early receipts are not "extra funds" but are revenues attributed to the next fiscal year. He also cited Arkansas Code 6‑20‑2210 and district Policy 7.1 as the governing limits and targets for fund balances.
After the presentation the board moved and approved the budget as presented.
