Audit: Coos Bay SD reports clean opinion, notes $1.375M drawdown to sustain staffing
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Summary
District finance reported an unqualified audit opinion and an intentional drawdown of about $1.375 million of ending fund balance to preserve staffing; the board discussed unbudgeted grants (~$600,000) and possible state-level revenue changes.
The Coos Bay School Districtreported a clean, unqualified audit opinion at its January meeting and a planned drawdown of district reserves to preserve staff positions.
The finance report noted the audited beginning fund balance and explained that district leaders intentionally used roughly $1.375 million of ending fund balance to maintain staffing levels this year. The superintendent and finance staff said the district remains above its board-policy reserve target and will monitor state revenue forecasts that could require adjustments.
Administrators told the board they had received roughly $600,000 in unbudgeted special-revenue grants this fiscal year, including a multi-year comprehensive early literacy grant and a high-dosage tutoring grant (approximately $105,000 this year and slightly more next year), plus a YEHA (Youth Emergency Housing Assistance) grant from the City of Coos Bay (about $105,000). Finance staff noted some grants are reimbursement-based and that timing of state/federal disbursements can complicate cash flow and reporting.
Board members discussed the risk of state-level cuts and advocacy plans. The superintendent said the legislature could announce budget decisions in February that might affect state school funding, and the district will update the board as more details become available.