Chino Valley board hears tight November financial update, operating fund projected slightly negative
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Summary
Board received an overview of November finances showing a roughly $19.2M operating budget, year‑to‑date spending of about $8.2M, and a projected ending balance near a $688,000 deficit; presenters warned of narrow margins and timing delays in state reimbursements.
The board heard a month‑end financial review covering operating and capital funds. The presenter reported an operating budget of approximately $19.2 million, with hopes it could reach $19.4 million, and year‑to‑date spending of about $8.2 million. Based on November figures the presenter said the operating fund’s projected ending balance showed a slight negative position—about $688,000 (3.58%)—but cautioned that final figures will not be certain until the district’s hundredth day report, typically in late February.
The finance presenter explained how restricted cash funds and special‑revenue accounts work: of roughly 35 distinct funds, some are "cash‑short" where state or county receipts and timing of contractor claims cause temporary negative cash until reimbursements clear. Examples discussed included the preschool tuition fund, capital funds showing encumbrances, and fund 6 91 which briefly displayed a cash balance due to timing of claims.
Presenter noted last year’s practice of carrying a higher reserve (4%) is unrealistic given declining student counts; the district currently has a lower policy target closer to 1%, which a speaker said is a tight margin. Capital funds were described as healthier, though projects will be considered in the coming months and additional levy proceeds are expected to fund planned construction.
Board members asked clarifying questions; no formal budget adoption occurred at the meeting.