Katy ISD reviews December financials and several budget amendments; Rotary requests return of scholarship funds
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Summary
CFO and budget staff presented December financial statements showing expenditures around 31.5% year-to-date, proposed functional budget amendments with no impact on general fund balance, and staff said Katy Rotary asked the district to return a legacy scholarship endowment so the Rotary can resume awarding dual-credit scholarships.
Assistant Superintendent Jamie Hines reviewed the district's December financial statements, construction and tax reports at the Feb. 17 work-study meeting, noting overall year-to-date expenditures at about 31.5% (slightly under the one-third benchmark) and highlighting a few functions above the month-to-date norm (social work, transportation, and data processing). Hines pointed out capital-authorizations from 2021 and 2023 showing projected under-spending and said collections will rise during the January-February tax season.
Esperanza Rios presented February budget amendments that are direct functional offsets (staff development, interpreters, truck rentals, choir risers, books and classroom supplies) and said the changes will not affect the general operating fund balance. Staff told trustees they will bring a budget amendment next month reflecting the use of project savings to cover some construction overages (e.g., Bear Creek), and trustees asked clarifying questions about collection contractors and certain construction accounting practices.
On scholarships, staff reported that the Katy Rotary established an endowment in 2001 to fund dual-credit scholarships but had not awarded scholarships since 2015. The Rotary has asked Katy ISD to return the account so Rotary can manage scholarship awards directly; staff said the district served as custodian and recommended returning the funds to Rotary.
Trustee requests and follow-ups: trustees asked staff to post the first slide from Chris Smith's debt presentation to BoardDocs; staff said they would provide that slide. Several budget- and construction-related items will appear again on next month's agenda for amendment approvals and accounting updates.