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Treasurer reports $5 million timing variance in property tax settlements; district says reserves and expenditure control will cover timing gap
Summary
Treasurer Miss Jenkins told the board that software changes at the county auditor/treasurer delayed settlement payments, producing an estimated $5,000,000 timing variance (about 5.9% under expected collections), but expenditures are under budget and other revenues will offset the timing issue.
Treasurer Miss Jenkins presented the monthly financial statement and reported a roughly $5,000,000 variance in real‑estate property tax settlements tied to a county auditor/treasurer software update. She said the county’s software update means final settlements may be delayed until mid‑June and that the timing issue—not an actual cash loss—will create a below‑expected revenue figure in current reports.
Jenkins said district expenditures remain about 2% under budget and other revenue sources will help offset the timing variance; she added the district commonly budgets a transfer to permanent improvement and could reduce that transfer if needed. Board members asked about contingency plans; Jenkins replied that she does not anticipate a material long‑term shortfall and that final settlement should normalize after the county completes the update.
The board accepted the financial report and had no immediate additional action.
