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Presenter delivers third-quarter financial update; property-tax collections and late state transportation payment noted
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Summary
District staff delivered a third-quarter financial report, saying property-tax collections were about 47.8% for the cited levy period and that a late state transportation payment (received April 13) affected the transportation fund totals; staff said overall revenues and salaries were tracking near expectations.
Presenter (S2) delivered the district's third-quarter financial update and framed the report as a comparison to prior years: "We're 75% of the way through the year," S2 said, noting the layout shows consistent year-to-year trends.
S2 said the district's property-tax collections for the cited levy were about 47.8% so far and that the corporate personal property replacement tax (CPPRT) figure appears high in the current accounting but will be moved among funds to align with the adopted budget. "When you look across the years for the same time period, we're fairly close and consistent," S2 said, adding that transfers and a recent bond payoff had also affected prior-year comparisons.
On expenditures, S2 reported salaries, wages and benefits were tracking in line with expectations — roughly in the low 70s percentage of budget for the period cited — and described purchase services and materials as the primary area with elevated spending due to early-year projects.
S2 also reviewed the operations and maintenance (O&M) fund, noting salaries there were about 74.7% of budget and that the apparent overage in purchases and supplies is typical for work that occurs earlier in the fiscal year.
On the transportation fund, S2 said the district's third-quarter state payment was running late relative to the report dated March 31; S2 told the board the district actually received that payment on April 13 and that, if included, the transportation fund would be in the mid-75% range. S2 said the district has reserved funds for potential used-bus purchases but has not yet been awarded a route that would consume those resources.
A board member (S3) asked if there were questions; no substantive follow-up was recorded and S3 thanked the presenter for the update. The presentation concluded with staff saying they would reallocate CPPRT as planned and continue monitoring revenue timing into the end of the fiscal year.
The board did not record any formal action on the third-quarter report during the recorded segment; the presentation moved to the next agenda item.
