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Board hears financial update; staff report projected $177,003.96 year‑end fund balance and open encumbrances
Summary
School business staff reported a projected year‑end fund balance of $177,003.96, noted additional recent encumbrances and flagged a maintenance‑salary coding issue tied to cooperative services that staff will reclassify before finalizing year‑end figures.
At the meeting, the board received a financial update noting remaining pre‑board‑pack expenses of $191,155 and an additional $35,959 spent in the previous month. Financial staff said purchase orders remain open and projected a fund balance at fiscal year‑end of $177,003.96; they warned encumbrances and late purchase orders could change that figure.
Board members questioned a maintenance salary line (account 11.2610) that appears over budget while a repair and maintenance line also shows charges. Presenters said some cooperative services (a contracted cooperative employee) were budgeted under repair and maintenance but charged to the salary line, likely a journal‑entry or billing allocation error; staff committed to correct the coding and reallocate the charges before the year‑end close.
Trustees also asked about course‑reimbursement timing for teachers and whether summer coursework counts against next year’s budget; staff clarified that courses taken after July 1 fall into the next fiscal year. The finance presenter and superintendent said they will follow up with updated purchase‑order close dates and a corrected report at the next board meeting.
