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Platte County SD #1 staff report $17M revenue, board discusses moving $500K to depreciation reserve
Summary
District staff reported roughly $17,000,000 in revenue and $16,000,004.99 in expenses, leaving about $563,000; trustees discussed transferring $500,000 to a depreciation reserve, holding $50,000 for subscriptions, and concerns over a roughly $300,000 shortfall tied to the state’s funding treatment of charter‑school ADM.
District finance staff (S6) briefed trustees on year‑end and next‑year budget considerations, reporting total revenue of approximately $17,000,000 and total expenses of $16,000,004.99, leaving roughly $563,000 that the district can allocate. S6 explained options: transfer funds to a depreciation reserve (no statutory limit) to purchase future assets, or place funds in cash carryover subject to the state limit (approximately $5,800,000). S6 said the depreciation reserve allows purchases for asset preservation but cautioned that transfers affect what can be used for operational purposes.
Staff and trustees discussed that the state’s funding model currently mixes charter‑school average daily membership with district ADM, which inflates the district’s ADM in the short term and creates a funding mismatch. S6 noted the district is facing an approximate $300,000 deficit tied to the current funding calculation and that a district representative had raised the issue with the joint education committee.
Options on the table included moving $500,000 into the depreciation reserve and holding $50,000 for prepaying subscriptions and textbooks to realize savings next year. Trustees discussed timing (audited cash balances will change after the auditor’s report) and statutory deadlines for transfers (staff noted transfers may be completed as late as October if procedures permit). The presiding member clarified that any specific fund‑transfer decisions will require a formal vote at the July budget meeting; tonight’s discussion was informational and directional.
What happens next: Staff will prepare formal recommendations and exact figures for the July budget meeting. Trustees suggested prioritizing flexibility (keeping some funds available for near‑term needs) while preserving capacity for anticipated shortfalls tied to lower projected ADM figures.
Transcript evidence: budget figures and the proposal to transfer $500,000 to depreciation with $50,000 for subscriptions were discussed most intensively between SEG 100 and SEG 389 in the transcript.
