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Ozark R-VI reports a 26.11% year-end reserve ratio, transfers $2.7M to capital fund
Summary
Finance staff reported a 26.11% reserve ratio for fiscal year 2023–24, transfers of about $455,000 to avoid a negative fund balance and roughly $2.7 million to fund construction/lease-purchase in fund 4, and stronger-than-expected state aid at $14.75 per WADA.
The board received an informational presentation of the district’s preliminary ASBR (Annual Secretary’s/School Business Report). Finance staff said the district closed FY 2023–24 with a 26.11% reserve ratio for funds 1 and 2, within the auditors’ recommended 20–25% range, and that the ratio flattened after several years of decline.
Staff said the district transferred a little over $455,000 from fund 1 to fund 2 to avoid ending fund 2 with a negative balance, and transferred about $2,700,000 from fund 1 to fund 4 to pay for lease-purchase costs and capital projects. State aid per WADA (weighted average daily attendance) came in at $14.75, higher than an earlier estimate of $13.74, which improved revenues. Staff noted federal pandemic-era funds (ESSER/SL3) are declining and some ESSER payments scheduled for this fiscal year were moved into FY25.
Board members praised the administration’s budget management and asked staff to continue projecting future federal revenue declines. The board received the ASBR as an informational item; no vote was required.
Why it matters: Reserve ratio and fund transfers shape district stability and the capacity to sustain programs. The ASBR numbers will factor into fall budget planning and forecasts for future federal revenue reductions.
Next steps: Auditors will present a full audit in December and staff will continue to model the impact of declining federal revenue on future budgets.
