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CFO outlines January finances; tentative budget to board in April and final adoption expected in May
Summary
CFO Crystal Sublet reported property tax collections of about $23.66 million year-to-date and general fund expenditures at roughly 51.3% of budget (~$29.8 million spent through January); the district plans to present a tentative budget April 7 and expects final adoption May 19 with submission to the Department of Taxation before June 1.
CFO Crystal Sublet reviewed the district’s January financial statements at the March 3 meeting and provided the board with the upcoming budget schedule.
Sublet said property-tax revenues remain the primary source of general-fund receipts and reported consolidated tax payments of roughly $23.66 million received to date. She said the general fund’s expenditures are running favorable to year-to-date expectations: the district had expended about 51.3% of its budget (approximately $29.8 million) as of January, while salaries, wages and benefits constitute the largest share of spending.
Sublet outlined the budget timeline: a preliminary tentative budget is expected to be presented to the board on April 7; the tentative budget will be submitted to the Department of Taxation later in March with a final proposed budget returned to the board for consideration in May and a public hearing and adoption anticipated on May 19 (with a backup date of May 26). She said the district expects to submit the final budget to the Department of Taxation by June 1.
Board members had no substantive questions during the presentation. No budget adoption occurred at the March 3 meeting; the presentation was informational.
