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Finance director gives March snapshot: revenues near budget, English-learner accounting affects year-to-date totals
Summary
The district's finance director reported March 31 general fund revenues of $59.8 million (59.95% of the annual budget) and explained an English Learner journal entry and deferred property-tax reconciliations; total expenditures were reported at $89.9 million (65.66%).
David Resnick, the district's director of finance and operations, presented the March 31 summary for the general fund on April 27.
Resnick reported "Our stated revenues are at $59,800,000, which is 59.95% of the annual general income budget." He said federal revenue was about $440,000 and property-tax receipts were $21,000,000 (77.02% of the general fund budget) with a few payments still pending and a reconciliation expected from Scott County.
Resnick explained an accounting treatment required by the state for English Learner programming: the district will make a journal-entry revenue credit and debit expenditures to reflect state-required reporting, which affects how year-to-date percentages appear. He presented total fiscal year revenue of $84,100,000 (62.68%) and total expenditures of $89,900,000 (65.66%), and described that salary and wages, employee benefits, purchased services, supplies and equipment are all tracking near prior-year patterns.
Board members asked clarifying questions and thanked staff; no formal board action was requested or taken on the presentation.
Next steps: staff will continue reconciliations with the county and finalize year-end journal entries.
