Business director: state allocations arrive in January, revenue 'true ups' expected
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Summary
Business Director Marshall Cruz told the board that state revenue allocations for the district are finalized in January; Cruz expects increases (transportation, special education, basic ed) then and said the district will have a clearer fiscal picture after those 'true ups.'
Marshall Cruz, the district's business director, told the board Dec. 10 that current expenditures are proceeding on the adopted budget but that the state does not finalize revenue allocations until January. He said the district's revenue picture will become clearer after January when "true ups" for transportation, special education and basic education funding are posted by the state.
Cruz described the district's revenue timing challenges (large bills that are front-loaded, such as insurance due in October) and reminded new board members that school finances are structured across multiple restricted funds (general fund, capital projects, debt services, ASB and transportation) that must be spent for specified purposes.
He told trustees enrollment trends and categorical funding will influence the year's financial direction and said he will return in January with a more complete forecast following state allocations.