The Lee's Summit R‑VII finance committee on Jan. 12 reviewed a near‑term revenue shortfall in its operating fund and approved an intra‑fund transfer to cover immediate obligations.

"We're moving $4,824,987.94 from Fund 1 to Fund 2 in order to cover expenses in Fund 2," said Dr. Herzog, the district treasurer. He said Fund 1 is behind budget primarily because Jackson County tax receipts have been delayed and because combined impacts from senior tax credits and commercial reassessments could reduce revenue by roughly $5 million.

The committee heard that Fund 2 (state foundation and related receipts) is tracking close to budget and that restricted funds such as nutrition services are in relatively strong positions, partly due to a small meal price increase. Dr. Herzog said the district expects a clearer picture of Fund 1 revenues by March after January tax collections clear.

The committee also discussed a proposed refunding of the district's 2016 certificates of participation tied to the Missouri Innovations campus. Dr. Herzog said under the current analysis from underwriter Raymond James, refunding could generate approximately $629,000 in present value savings, but the cash‑flow effect is essentially neutral for LSR‑7 because the University of Central Missouri (UCM) reimburses the district for those debt service costs.

Budget implications and next steps: staff said they see no immediate need for expenditure reductions but may bring a revenue amendment in the spring if tax timing does not improve. The committee did not record a formal board vote on any policy change during the meeting; the transfer and refunding discussion were presented for committee consideration and follow up.

The finance committee is scheduled to revisit updated revenue numbers at future meetings once county tax distributions are posted.