Board hears finance update; auditors flag two findings and staff report corrections

The WARREN CO. R-III finance officer reported a mixed monthly picture to the Board: local revenue is up modestly but state distributions (Prop C/sales tax allocations) are lagging because a higher statewide denominator (increased ADA) reduced per‑pupil amounts. Federal reimbursements were noted as delayed and slower to process because of staffing shortages at the reimbursement agencies.

On capital and cash flow, the district reported paying for newly delivered buses, reducing the capital projects fund from about $2,000,000 to $1.5 million and leaving roughly $406,000 in contingency for building projects. Bond‑account figures presented: approximately $30,000,000 in bond revenue with about $15,000,000 in expenses and roughly $15,000,000 cash on hand.

Auditors found two items. The first is a carryover on free/reduced lunch verification owing to a timing mismatch in the report pulled for auditor review; staff said that timing difference explains the previous finding and that it has been addressed. The second finding involved an omitted reporting step for an approved transfer from Fund 4 to Fund 1; staff said the board had authorized the transfer correctly but a step was missed when filing the SVR and that the reporting omission has been corrected. "We appreciate our auditors finding mistakes... it has been corrected," the finance officer said.

The board moved, seconded and approved the audit as presented without further amendment. No additional fiscal corrective actions beyond the stated procedural fixes were adopted at the meeting.