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Board accepts midyear budget revisions; Fund 10 forecast improves to about $2.2 million
Summary
Finance staff presented midyear audit results and a forecast showing an improved Fund 10 position (beginning balance ~ $681,773; end-of-year forecast roughly $2.2 million) after expense realignments and projected savings; the board approved the midyear budget revisions by roll call.
Finance staff briefed the Elizabeth School District board on Jan. 26 about midyear audit findings, projected fund balances and cost-saving measures, and the board voted to accept the midyear budget revisions.
The finance presenter said draft audit work and a midyear true-up produced a projected beginning fund 10 cash balance of about $681,773. With cost-cutting and expense management implemented during…
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