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Forest City board approves monthly expenditures; district says it awaits about $1 million in federal reimbursements
Summary
The Forrest City School District board approved September and October expenditures and discussed payroll timing and coding questions, with staff saying the district is waiting on about $1 million in federal reimbursements that will change reported balances once posted.
The Forrest City School District Board of Education voted to approve its monthly expenditures for September and for the period ending Oct. 31 during its November meeting and discussed concerns over negative line items and payroll timing.
Board members pressed staff for details after seeing several fund lines listed as negative on the summarized report. An administrative speaker said the district’s financial statements reflect timing, coding and encumbrances and that, "Literally, we're waiting on about a million dollars" in federal…
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