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Finance director: year‑end revenues and invoices pending; January will clarify bottom line
Summary
The finance director told the committee that outstanding rental income, workers' compensation audit adjustments, and encumbered tuition are expected to affect final FY24 results; he said January will provide final numbers and the district remains cautious.
The finance director updated the committee on the district's fiscal posture as of Dec. 10, reporting that outstanding invoices and several revenue streams remain to be recorded. He said rental income, results from a workers' compensation audit and final encumbered tuition figures could change the preliminary bottom line that currently appears to show a variance of roughly $117,000 when comparing the FY24 budget to preliminary FY24 actuals.
"At this point, I am not saying that we have a deficit," the director said. He explained that revenue recognized after year end and audit adjustments historically have moved the final position and that he expects to present definitive year‑end numbers at the January meeting.
Committee members asked which revenue categories remain outstanding and whether the expected receipts will fully cover the preliminary variance; the director said he is hopeful and that some funds historically return to the district after audits and late postings. The committee requested continued monitoring and an update at the next meeting.
