District finance update: bond payment, normalized receipts and lunch funding noted
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Summary
The board heard that this month’s receipts are within a 'normalized' range compared with a prior outlier year, that the district made a $3.8 million bond payment, and that federal funds for the lunch program arrived; the supply line showed a roughly $25,000 deficit for the month.
The board received a financial briefing that framed current receipts as more 'normalized' compared with a prior high-receipt year. The presenter said monthly receipts in earlier comparison years were about $2.2 million (2022) and $2.4 million (2023), and noted bank balances reported previously at about $3.3 million and $3.6 million. The district made its scheduled bond payment of $3.8 million; that payment should appear in the next statement.
Administration also reported an unusual supply expense this month that produced a roughly $25,000 negative for the month on the supply line, and said that recent federal funding for the school lunch program arrived at a higher level than had been received in the most recent months. Disbursements were described as being on track relative to the year-to-date percent of budget, and the presenter said the district remains in a stronger cash position now than it was in those earlier years.
Board members asked clarifying questions about how district taxes and front-loaded collections from Lincoln will affect local receipts; administration warned that some district tax collections will lag this year but should normalize next year as adjustments are made. Staff said they will provide updated bond-fund balances and disbursement numbers at the next meeting.
The board did not take separate formal action on the report; it moved on to the strategic-plan presentations that followed.