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Cascade finances stable but reserves tightening; board to use PERS reserve if needed
Summary
Finance Director William told the board the district’s finances are on track but carryover is smaller than last year; administrators said the district plans to use a PERS reserve to smooth the gap and will pursue budget savings with principals.
The Cascade School District’s finances are generally on track for the fiscal year but carryover reserves are smaller than last year, Finance Director William told the board at its March 9 meeting.
William reported total revenue at roughly 72% of the adopted budget and expenditures at about 54% year-to-date, with salary and benefits higher than last year. In response to board questions, he said the district expects an ending balance near the budgeted $2.4 million (an updated estimate around $2.2 million) and plans to supplement short-term needs from a PERS reserve saved for that purpose.
Board members pressed for details about cash-flow differences from the prior year and asked where the district would identify savings. Mr. Drill said administrators and principals are reviewing staffing and program choices and are preparing spreadsheets to identify possible reductions to ‘‘slow the bleed’’ and protect core services.
The board asked staff to spot-check vendor insurance certificates related to district contracts — an internal-control follow up flagged during discussion of transportation and food-service vendors.
Next steps: staff will continue monthly budget monitoring, check vendor insurance documentation as requested, and present specific budget-reduction options if reserves decline further.
