Easton School District reports roughly $953,000 cash balance; revenues, expenditures tracking below year-to-date expectation

The Easton School District reported a cash balance of $953,000.13 for the month ending Nov. 30, finance presenter Nicole told the board during the district's regular meeting. She said the district’s minimum fund-balance policy is set at 20 percent and that the district is roughly 25 percent above that threshold.

Nicole explained November is a low collection month (about 5 percent of annual apportionment is received in November), while summer months generate the highest collections. She said the district’s general ledger trial balance reconciled closely with the county treasurer and that a previously identified payroll posting error in the software has been fixed.

On a fund-by-fund basis, Nicole reported the district’s general fund ending balance as $958,797 (reported in discussion), noted the capital projects fund balance as stated in the report, and said the ASB balance is $28,000 with the transportation vehicle fund around $15,442. She said she will add an indicator to the budget-status report showing that the district is approximately 25 percent through the fiscal year, to help board members compare elapsed time with collected revenues and spent expenditures.

Nicole invited board members to contact her with follow-up questions about reconciliations, fund pages, or any other financial detail.

The board took no formal financial action at the meeting; the report was accepted for the record and board members thanked staff for the reconciliation work.