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Business office: state aid dip expected, capital project nearly complete with ~$200,000 remaining
Summary
District finance staff said expenditures should stay within budget but revenues are likely to be slightly under due to reduced state aid; Medicaid and interest receipts are above expectations. The capital project is nearly complete, with a little over $200,000 left to allocate.
The district's business office reported that expenditures are expected to stay within budget, though state aid shortfalls mean revenue will come in slightly under original expectations.
Finance staff told the board that interest and Medicaid billing receipts have exceeded initial estimates and that real-estate tax collections are on track. The officer said equalization-rate changes at the state level produce uneven tax impacts across neighborhoods, using Tustin, Deer Park and Highland as examples of how the same percentage change in the equalization rate can affect tax bills differently.
On the capital project, the business office reported that most work is complete and said there is "a little over $200,000" remaining; staff will allocate interest and finalize the accounting and present options for leftover funds at the August meeting.
Why it matters: State-aid shifts and equalization-rate changes can influence local tax rates and household impacts; the remaining capital project balance will determine whether additional smaller projects proceed or funds are reserved.
