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Arlington finance director warns enrollment shortfall could require interfund borrowing
Summary
Executive director of financial services reported a January fund balance around $862,000, said enrollment is lower than budgeted and warned the district may need an interfund loan from capital projects as early as March; an audit is expected to begin in the next 30 days.
Gina Zuttenhorst, the Arlington School District’s executive director of financial services, presented the district’s financial highlights for January and described a narrowing fund balance amid lower-than-expected enrollment.
Zuttenhorst said the January month-end fund balance was “862,000 ish” and explained that in January the state apportionment reverts to payment based on actual enrollment, which exposed a dip in revenue because the district’s enrollment came in below…
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