Doctor Swanhauser presented the district’s mid-year financials and a procurement update. He said the district is 42% through the school year (closed period 5) and reported an all-funds balance of approximately $109,400,000 — about $23.6 million ahead of the same point last year — driven largely by a transfer to savings for the building fund and November tax revenues. Operating revenues year-to-date were reported at about $111,600,000 (up roughly $11.9M year-over-year) with expenditures of about $85,100,000; revenues exceeded expenditures by about $26,500,000 and the operating fund balance was reported at about $68,800,000 (about 25.9%).

Swanhauser also announced the district had terminated its contract with Synergistic. He said Synergistic’s work was limited by building controls the district does not yet have, and therefore the company could not capture the promised savings. "We did that because, we had limited them to finding our savings... and as it turns out, we discovered through our process that we don't have the controls in all of our buildings to be able to capture the savings that they had promised," he said. Staff said upgrades to controls are on the 10-year plan and that a projects request will come forward when ready.

The board moved, seconded and approved the financial report by roll call. No additional actions were taken on the Synergistic termination beyond the update and planned controls work.