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RSU 39 year‑end financials: revenues down about $800,000 but operations close with a positive balance; DOE school-construction audit to begin
Summary
District finance staff reported year‑end results showing actual revenues about $800,000 below budget but expenses $660,000 lower than budgeted, ending with a $1,481,000 balance; the Department of Education will begin an audit of the school construction project that could affect $1.3 million held in a construction checkbook.
Mark Morris, reporting the district's fourth-quarter and year-end financials, said general fund revenues finished roughly $800,000 below budget while actual expenses ran about $660,000 under budget, producing a year-end balance of approximately $1,481,000.
Morris cautioned that the figures remain subject to change pending the audit, and he emphasized that some numbers represent carryover allocations rather than new cash revenue. He told the board the Department of Education will begin an audit of the school construction project in October/November and expects to complete it by Dec. 31; the DOE will determine whether and how much of the $1,300,000 in the school construction checkbook the district may keep. "At that point, the determination we made as to how much of the $1,300,000 that's sitting in the checkbook ... that the RSU will be able to keep, if any," Morris said.
Morris also described internal transfers (including $20,000 moved from facilities to cover unanticipated CTE staffing changes), incoming federal grant activity (two new homeless grants and ongoing SR3 COVID grant work that closes at the end of the month), and the nutrition fund balance ($396,000) with an upcoming spend-down plan devised with staff. He said scholarships paid out totaled $25,900 and that student activity accounts were routine. The district expects to commence the 2023–24 audit process soon.
Why it matters: the DOE construction audit could alter how much of the construction funds remain available to the district; carryover and reserve-management decisions influence budget planning and potential future reductions or investments.
What's next: finance staff will continue the audit process and present final audited figures when available; the board will review the spend-down plan proposed for nutrition funds and receive a full grant closeout report for SR3 COVID funds once closed.
