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Audit shows about $3.3M of favorable variances; finance staff warns some gains may be temporary
Summary
The district received an early audit with a clean opinion and roughly $3.3 million of favorable variances (taxes, EIT, interest and grants); finance staff cautioned many increases are timing or one‑time items and will be reflected in the March five‑year projections.
Mister Ghirboni opened the finance portion of the meeting and handed the audit presentation to Don, who summarized the district’s fiscal year results and several one‑time or timing‑related gains.
Don told the committee the audit showed roughly $3.3 million in growth to fund balance driven by multiple sources: about $188,000 additional real‑estate tax collected (including interim bills), roughly $318,000 more in earned income tax receipts, and approximately $1,036,000 more in interest revenue than budgeted. He said a…
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