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Finance director: district tracking to budget but cash flow requires county assistance; budget amendment of ~$718K to be placed on consent
Summary
Phil Penn reported Cabarrus County Schools is tracking close to budget but faces cash‑flow pressure due to declining fund balance; county provided front‑loaded appropriations in November to cover semiannual teacher supplement. Budget Amendment No. 2 increases the total budget by about $717,997 and will be added to next week's consent agenda.
Phil Penn presented the district’s monthly budget summary and a proposed Budget Amendment No. 2 to the Cabarrus County Board of Education on Dec. 1.
Penn said the district is "tracking very closely to budget" but noted a decline in fund balance has created cash‑flow pressure ahead of a multimillion‑dollar semiannual supplement payment to certified staff. To address timing of the…
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