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Farmersville Unified approves first interim report, finance staff warns of multi-year drop in restricted revenues
Summary
District finance staff presented a first interim report showing a current-year combined fund balance of about $21 million but projected declines to $17 million and $11 million over the next two years as restricted grants are spent down; the board approved the report and issued a positive certification.
The Farmersville Unified School District Board on Wednesday approved the first interim financial report and issued a positive certification of the district’s financial status after a presentation by district finance staff.
The presenter summarized the unrestricted general fund and restricted funds, noting LCFF (enrollment- and attendance-based funding) is the primary revenue source and that salaries and benefits represent about 82.8% of unrestricted expenditures.…
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