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Nyssa SD 26 financial update: modest general-fund carryforward, bond balance and audit draft timeline
Summary
District finance staff reported a year-to-date general-fund carryforward of about $74,000, a middle-school bond balance of $55,670 (with a large tax receipt expected in November to cover a December debt payment), and a food-service operating deficit of about $53,000 as of Sept. 30. Auditors completed field work and an audit draft is expected mid-November.
Crystal, the district finance presenter, told the board that financial statements through Sept. 30 show a general-fund ending balance of a little more than $74,000 to carry forward for the school year.
Crystal explained that a first payment to the district's virtual-school partner (OpenEd) was coded under purchase services, which made that line item larger than usual. She said the middle-school bond account currently holds $55,670; county tax receipts expected in November should provide the larger tax inflow needed to cover a debt-service payment due in December.
On food service, Crystal reported 17 days of service in September, bringing year-to-date revenue to roughly $175,000 but leaving the food-service operating statement about $53,000 negative as of Sept. 30. Crystal told the board the district monitors payroll and food costs closely; the negative balance is carried through to the cumulative balance used to manage cash flow during the fiscal year.
Audit status: Crystal said auditors completed fieldwork on campus in September and will draft the audit offsite; the district expects a first draft to go to the superintendent and board mid-November and for the auditor (Chelsea) to present final audit results to the board in December.
Other items: the board approved the consent agenda covering routine items and was reminded of upcoming dates, including a ribbon-cutting for the new turf (performances and free food for early attendees), the first games under new lights, and the addition of a new school resource officer, Officer Chris Ong.
