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BCSC Q3 report: small revenue shifts, reserve targets near plan and projected year‑end cash balances
Summary
Finance staff told the board education-fund revenues are up about 1.5% while operations revenues are down just under 1% (property-tax caps cited). The district reported third-quarter reserve levels around 14.9% and forecasted year‑end cash balances after encumbrances.
At the meeting, BCSC finance staff (S16) presented the Quarter 3 financial report (July–September), reporting revenue and expenditure trends across operating funds and an updated cash-balance projection for the year.
The presenter said education-fund revenues are up about 1.5% year-to-date, largely due to a higher ADM earlier in the year, while the operations fund’s revenues are down just under 1%—a decline staff attributed in part to property‑tax caps. Operating-referendum revenue was reported up about 5.4%, with the largest increases driven by property-tax revenue within that fund.
On expenditures, the education fund is up roughly 4.1% year-to-date, with salaries and benefits up about 6.5% and supplies and technology purchases contributing to the increase. The referendum fund showed an 8.5% expenditure increase driven primarily by retention and the cost of newly added school safety officers and STEM lab staffing.
Staff reviewed reserves and cash balances: the district’s target reserves for operating funds are roughly 13.5% and rainy-day targets are higher; the presenter said current combined operating fund reserves are about 14.9%. The report included prior-year beginning cash balances (~$25.6M), budgeted revenues (~$143.6M), and a revised projected revenue figure (~$142.7M) tied to property-tax cap impacts; staff said encumbered prior‑year commitments total about $4.8M and projected year-end cash (after accounting for encumbrances) would be approximately $16.5M (gross forecasts presented near $21.3M before encumbrances).
Board members asked for confirmation on those figures and where public access to the reports could be found. Finance staff said the materials will be included in the board meeting notes, on the DLGF website and via DOE Form 9 reports.
The presenter offered to answer follow-up questions and said staff will continue to provide quarterly updates and to respond to any member requests for additional breakdowns.
