Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Audit review says fund balance in policy range; PDE charter‑rate change could save Blackhawk about $80,000
Summary
A Turnley & Associates finance review told the board the district’s unassigned fund balance is above the 3% minimum and highlighted internal transfers; district staff said recent PDE changes to charter tuition calculations are expected to reduce payments and save roughly $80,000 retroactive to the start of the year.
District finance presenters reviewed the audit and fund‑balance figures during the Feb. 5 work session, telling trustees that the district’s unassigned fund balance is within district policy and above the state minimum. The presenter summarized recent internal service fund transfers and described a transfer of roughly $1.9 million into a capital projects fund to reflect project accounting.
The presenter summarized the fund‑balance calculation and noted it is an important indicator for the state when evaluating millage increases. "That percentage should be no less than 3% and no more than 80%," the presenter said, and reported the district is in compliance.
Separately, district finance staff (identified in the discussion as Aaron) explained a PDE revision to the charter tuition calculation (the district referenced an update to PDE's form/calculation) that, among other changes, allows deductions of building costs for cyber charters and reduced special‑education cyber charter rates by about $4,000 per student. The district said non‑special education cyber charter rates decreased by roughly $1,800–$2,000 per student, and with current enrollments these changes should save the district about $80,000 this year; the change is retroactive once PDE posts the updated form and charter invoices are adjusted.
Board members asked clarifying questions about long‑term liabilities and actuary‑calculated benefits for retiree obligations; finance staff emphasized continued collaboration between the business office and auditors to ensure accuracy in reporting. No vote was required on the audit presentation; several consent and personnel items were moved to the Feb. 19 voting agenda for approval.
