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District financial officer: apportionment advance improves cash; three-year plan aims to grow reserves
Summary
Shelton—s budget officer told the board an apportionment advance temporarily boosted cash and fund balance, projecting a positive ending fund balance (about $1.5 million) and outlining a three-year plan to reach $6' million to $7 million reserves with levy revenue a key factor.
Mr. Sherman, the district budget official, provided a brief update on the district—s finances, telling the board an apportionment advance has increased cash on hand and temporarily raised the fund balance. He said the district expects the apportionment advance to be repaid in April when tax collections arrive and that the current projection for the end of the school year is an approximately $1.5 million positive fund balance after smoothing one-time timing differences.
Sherman said…
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