Vicksburg Warren board approves November financials after correcting fund reporting error
Loading...
Summary
The Vicksburg Warren School District board approved its November financial report and a correction to activity/fund 72-11’s beginning balance after staff identified a reporting glitch; board members discussed cash-stabilization use, tax timing and EV charger expenses.
The Vicksburg Warren School District board on Dec. 18 approved its monthly financial report for the period ending Nov. 30, 2025, after staff identified and committed to correct a reporting error in fund 72-11.
Finance director reported November revenue of about $3,260,617 and expenditures of $5,365,167, leaving an FY26 year-to-date gap of roughly $2.1 million. The district’s fund-balance trend showed about a $2 million difference compared with the prior year and an on-hand fund balance of about 30% of expenditures.
Board members pressed staff for details about the district’s use of a cash-stabilization fund. A trustee asked how much had been drawn from the fund; staff explained that mid-year draws are routine because the district’s tax collections (Avalorum) are received later in the fiscal cycle and are returned to the fund when taxes are collected. "If you look at the district's budget, it is approximately 50% MSFF, 50% Avalorum," finance staff said, explaining tax receipts typically arrive in February–March.
During review staff identified a software "glitch" on the statement of revenues and expenditures: the beginning balance for activity/fund 72-11 (sixteenth section principal) was listed at about $141,000 but should be roughly $4,500,000. The board approved a motion to accept the financial reports contingent on correcting that value and voted to approve the report by voice vote.
Members also discussed a larger-than-expected Entergy bill tied to newly installed electric-vehicle chargers; staff said the chargers add monthly fees but help offset diesel fuel costs because electric buses run short routes. The board approved the claims docket, including the Entergy charge, during the same meeting.
Next steps: staff said they will upload corrected reports after working with the software vendor and will return updated financial documents at the next meeting.
