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District finance report: Fund 46 outperforms projections; food service shows temporary $31,000 deficit
Summary
Business staff reported Fund 46 interest and balances above projections (March balance $557,758.05) and noted a $31,000 food-service deficit attributed to reimbursement timing; overall spending generally under 75% target.
District finance staff presented a quarterly budget update at the April 8 meeting, reporting generally positive performance across major funds and calling out a few exceptions.
The presenter said revenue and expenses for Fund 10 are tracking near 50% at this point in the year, and several object lines are under the board's 75% usage target. The presentation noted subscription payments are frontloaded; the district is monitoring a $6,500 line that is slightly over due to an extra membership (roughly $171). The presenter said the district purchased a bus in July and that capital and transportation budgets include a buffer for vehicle replacement.
Finance staff highlighted Fund 46, which was projected to earn $10,000 in interest but had produced about $16,000 through March. The presenter stated the Fund 46 closing balance for 2024–25 was $541,735.46 and the March balance for the current year was $557,758.05.
The presenter also reported the food-service program showing a temporary deficit of about $31,000, which staff attributed to timing differences in reimbursements from the state DPI (a lag of roughly a month between expenses and claim reimbursements). No board action on the budget items was taken beyond the informational update.
