Huron business manager reports midway-through-year finances and roof work at high school
Summary
The district is roughly half way through the fiscal year: revenue collections are $12.833 million (45% of budget) and expenditures $11.509 million (40%); construction focus is the high-school roof replacement and the district is awaiting insurance resolution for a middle-school gym floor issue.
At the Jan. 12 meeting, business manager Mr. Kristofferson reported the district had reached the midpoint of the fiscal year and presented year-to-date financials and capital-project updates.
"So far this year in the general fund, we've collected $12,833,000 or 45% of the budget," Mr. Kristofferson told the board, adding that the district had expended $11,509,000, or 40% of the budget. He compared those figures to the prior year, noting slightly higher collections and expenditures in the previous period.
On capital projects, Kristofferson said work is narrowing to the high-school roof replacement; the middle-school roof has only a few details to finish. He also said the district is awaiting a response from the roofing company's insurer regarding damage to the middle-school gym floor and noted that 5% retainage remains on project payments that provides leverage for the district during resolution discussions.
Board members asked about payments and the insurance response; Mr. Kristofferson said monthly payments have been made on construction projects, but a 5% contract reserve remains unpaid. The board discussed using retainage as leverage and asked staff to continue pursuing insurer responses.
No specific completion date for the high-school roof was provided.
The financial update was informational; no action was taken beyond receipt and questioning by board members.
