Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
District reports $195,753 positive unaudited variance; fund balance and reserve use discussed
Summary
The district'9s budget presenter reported an unaudited favorable variance of $195,753, noted a recent $41,000 supplemental bill, limited use of restricted reserves (~$92,000) for retiree buyouts, and reminded the board the figures are unaudited and subject to change.
The district'9s finance presenter reported that, as of the previous week, the general fund showed an unaudited positive variance of $195,753. The presenter noted there are always late supplemental bills (one cited at roughly $41,000) that can affect the final result and emphasized the figures are unaudited until the summer-to-fall audit process is complete.
The presenter said restricted reserves were tapped for approximately $92,000 in retiree buyouts this past year and that a previously budgeted appropriation and federal American Rescue Plan items were not needed as revenue sources in the manner originally anticipated. The presenter said interest revenue exceeded expectations (the transcript references a budgeted $35,000 compared to higher actual interest receipts) and that the district'9s unassigned fund balance sits well above the 4% state-mandated minimum.
Board members asked questions and the presenter clarified that certain expected numbers (federal receipts and appropriation items) were not included in the draft tables and that the $195,753 figure may fluctuate as additional invoices arrive.
All figures discussed were described in the meeting as unaudited internal reports; the presenter stated audited numbers will be available later in the year.
