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Woodburn business office presents revised general-fund format; ending fund balance estimated near 12%
Summary
Director Bishop presented a redesigned general-fund report showing revenue/expense breakdowns, explained how property-tax growth affects the State School Fund, and reported an estimated ending fund balance around 12% of total; the board asked for more grant detail in the next packet.
Sarah Bishop, the district’s director presenting the business office report, showed the board a redesigned general-fund packet and walked through revenue sources (local, intermediate, state, federal), how property-tax increases reduce state school fund distributions, and a projected ending fund balance.
Bishop said the new front-page revenue summary groups items by how they affect the State School Fund and explained that numbers in parentheses on the revenue page indicate projected over budget (conversely for expenses parentheses mean over budget). She told the board the packet did not include the full grant revenue detail because closing the books required more time; she said the grant details will appear in the next report.
On the ending fund balance, a board member asked whether the district’s projected year-end fund balance is approximately 12% of total; Bishop confirmed that estimate. She also reminded the board that district policy targets a fund balance between 5% and 10%, while the Government Finance Officers Association recommends about 17%.
Board members asked for clarifications about how specific programs are coded in fund functions and where homeschool-contact or specific program lines would appear; Bishop pointed them to the 2000-function breakdown and offered to drill deeper if the board desired.
The board received the report and indicated they expect additional grant and detail in the next packet.
