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Grants Pass SD 7 staff report midyear surplus but warn May adjustments could reverse gains
Summary
Director Stigmiller told the board the district is "trending about $700,000 high" in revenues driven largely by property taxes but cautioned state and county timing adjustments in May could require repayments; she recommended keeping a $1,000,000 contingency in the budget rather than counting it as available ending fund balance.
Director Stigmiller presented the district’s January financial report and told the board the district is within its budget and showing a temporary revenue increase. "We're trending about $700,000 high," Stigmiller said, but she cautioned that the timing of property-tax collections and state adjustments means some of that figure could be reversed in May.
The presentation explained that much of the higher dollar amount is property-tax related and that the…
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