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Finance committee reports $98,000 surplus, clocks installed; freezer repair expected
Summary
The finance committee reported about $98,000 in surplus funds from the prior fiscal year that covered the district's new clock system; a freezer in food service requires a compressor replacement estimated in the low-$20,000 range and will be charged to the food service fund.
At the board meeting the finance committee reported a roughly $98,000 surplus from the prior fiscal year that covered the cost of a new district-wide clock system and associated equipment.
The finance representative said spending was generally in line and the district ended the fiscal year with strong cash positions: just north of $7,000,000 overall, about $5,000,000 in fund 10 savings and approximately $1,700,000 in fund 46 for capital improvements. Interest earnings on fund balances added roughly $230,000 to fund 10 and about $80,000 to fund 46, the representative said.
Committee members also flagged a food-service freezer that is not functional; a parts-and-compressor repair was estimated in the low-$20,000s and staff recommended repair rather than replacement to preserve remaining useful life. The committee said those costs will be charged to the food service fund and that expected carryovers will shift some expenses into the next fiscal year.
