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Finance update: $219,290 transfer, Prop C timing leaves Fund 2 about $1.3M behind
Summary
Dr. Herzog reported a $219,290.32 transfer from Fund 1 to Fund 2 and said the district is running roughly $1.3 million behind in Fund 2 early in the fiscal year because Prop C revenues lag; he noted revenues and expenses overall are close to last year and that the district has budgeted $10.5 million for capital projects this year.
In the Finance Committee meeting on Sept. 22, Dr. Herzog presented the district's financial snapshot for the month of August: a minimal transfer of $219,290.32 from Fund 1 into Fund 2 and operating revenue and expenses that are generally in line with last year.
Herzog told the committee Fund 2 is running about $1.3 million behind early in the year due primarily to timing of Prop…
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