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Treasurer reports fund balances, timing impacts on ad valorem and budget planning
Summary
CFO Christy Navey reported general fund balances, timing issues that produced a $1.95 million variance tied to ad‑valorem timing, anticipated January receipts, a midyear state foundation adjustment near $1.5 million and projected impacts on next year’s budget; the board accepted the report by vote.
Chief Financial Officer Christy Navey presented the treasurer’s report with a fund‑by‑fund overview and took board questions.
Navey told the board the district’s fund balances remain healthy and described a timing issue that made year‑to‑date comparisons appear down by about $1,950,000; she said the difference was a payment timing issue and that January ad‑valorem receipts would swing the numbers back. She warned the board that as assessed valuations rise, state foundation aid can decrease and that the district had accurately anticipated a midyear state aid change (about $1,500,000) when preparing projections.
Navey provided headline figures: general fund accrued personnel costs at approximately $39,100,000; building‑fund personnel costs reduced to about $1,720,000 after recent personnel changes; child‑nutrition accrued personnel at roughly $3,100,000. She described a $85,000 Native Youth Community Project grant (project #713) that the district is fronting and will be reimbursed for as expenses occur. On capital, she explained bond proceeds timing (bond fund 34 expected in May/June) and noted an encumbrance of about $376,000 for district lighting upgrades. She said the district is tracking building estimates and will start budget communications in February with a draft budget presented to the superintendent in March and to the board in May.
A board member moved to accept the treasurer’s report; the motion passed by roll call.
