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District finance briefing: enrollment dip, investments and a $391,000 emergency bus lift
Summary
Director of financial services told the board the district is roughly 81 students down from projections (an estimated local revenue impact of about $800,000), reported a stronger-than-expected beginning fund balance and described cash-flow strategies and investments; an emergency bus-lift replacement cost $391,000 and insurance costs rose more than budgeted.
The Lebanon Community School District’s finance director updated trustees on the district’s fiscal position, saying the system is managing cash flow and investments while absorbing an enrollment shortfall of about 81 students.
The director told the board auditors will be on site the following week to close fiscal year 2023–24 and that recent receipts—$209,000 (a second payment for a max-study accrual), $386,000 from indirect-rate claims, $125,000 in late property tax payments, and about $40,000 in investment interest—have improved the district’s cash position. The director said…
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