Business office: taxes near projection, interest revenue down; district enrollment at 5,195
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Summary
Hermiston School District 8 financial staff reported September tax receipts roughly matched projections but investment interest and fees are below projection; the board was told the state will issue a December estimate that will alter state school fund columns. Superintendent reported enrollment at 5,195 as of Oct. 31.
Miss Sol, the district business officer, briefed the board on September financials, saying tax collections were close to projection but interest and fees trailed expectations due to lower investment pool rates. "We are looking at the month of September for our board reports... our taxes were just a little under where we had projected," Miss Sol said, and added that the state is preparing a school fund re-estimate expected in December that will change board report columns.
On expenditures, Miss Sol noted the large payroll increase in September reflects the start of the fiscal year payroll cycle and that year-to-date savings on payroll and expenditures produced a net positive of about $41,000 even with lower investment revenue. She warned that the state school fund adjustment will shift tax and state-school-fund columns in opposite directions when the new estimate is published.
Superintendent Dr. Mooney presented the district's October 31 enrollment: "As of October 31, we were at 5,195 students K–12." He explained the district typically sees a small winter decline because of students who take extended breaks and legal rules requiring the district to drop students after 10 consecutive unexcused days without pre-notification.
Board members asked about assessed-value growth and the district's conservative tax budgeting; Miss Sol said assessed value in the taxing district grew roughly 4% year over year (versus the 2.75% assumption used for budgeting), and staff said any additional funds would come to the board as budget adjustments if they materialize.
The board was also reminded the auditors will present more detailed material to the finance committee on Dec. 1 and then to the full board at the December regular meeting.