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Finance staff report year‑to‑date surplus; school lunch balances and transportation invoices cited as uncertainties
Summary
Finance staff presented the monthly budget update through February, showing revenues at about 66% and expenses at 62% year‑to‑date with an approximate $3.4 million surplus; staff warned of uncertainty around DCYF reimbursements and school lunch balances and described an ongoing food service audit.
Finance staff presented the monthly financial report covering year‑to‑date activity through February. The report shows roughly 66% of expected revenue collected and about 62% of expenses incurred; after manual adjustments for late transportation invoices posted to February, staff reported roughly $3.4 million in revenue over expenditures year‑to‑date.
Finance staff cautioned there remains uncertainty around DCYF (Department of Children, Youth and Families) reimbursements and outstanding school lunch balances, prompting the department to add a modest reserve and step up outreach to families. “We added manually…so more comparable with the prior year,” the presenter said about late transportation invoices.
Members discussed a food service audit being conducted with Sodexo and noted that an in‑person audit had not occurred in about 10 years; staff said the audit gives a close look at program operations. Committee members suggested including a monthly report of transfers and increased monitoring in the regular finance packet; staff agreed to incorporate transfer reporting.
What’s next: Staff will continue weekly monitoring of lunch balances, complete the food service audit, and include transfer reporting in upcoming finance updates.
