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Bermudian Springs finance update: cafeteria shortfall, capital reserve strains and required water-system work
Summary
Business official reported general fund ending balance of $6,803,613.53, a projected cafeteria fund shortfall of about $150,000 driven by rising food costs, and a capital reserve balance around $483,000 with major facility risks (an auditorium HVAC unit cited at ~$80,000). The board discussed minimum reserve levels and a required arsenic-media replacement (~$42,000) to meet DEP rules.
Mr. Behar, reading the monthly financials, told the board the district began the fiscal period with a general fund balance of $6,899,506.39 and reported an ending balance of $6,803,613.53 after payroll and other expenses. He reviewed payroll ($965,288.02) and other operating expenses ($1,110,155.06). The transcript contains a revenue figure for the month that appears mis-transcribed and was not used as a verified amount in this report.
On the cafeteria fund, Mr. Behar said the district's beginning balance was $394.75; revenue/interest was recorded at $450.59, a $12,000 transfer from the general fund was made, and ending balance was $297.06 after payroll and other minor expenditures. He said food costs are the…
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