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Finance director reports revenues exceeding expenditures by $9.4 million; board moves to executive session
Summary
Finance staff reported year-to-date revenue collections above budget (89.32% collected), a $1.2 million room-tax receipt in March, and an ending fund balance of $26.1 million; the board later moved to executive session on personnel and approved personnel items as discussed.
Miss Connie presented the general financial report through March and said the district had collected 89.32% of budgeted revenues year to date. She told the board the district received $1.2 million in March in room taxes and $527,000 from the state for retention bonuses; Miss Connie also said a $108,000 grant budgeted in 2025 was drawn down in 2026 because expenditures occurred this fiscal year.
On expenditures, Miss Connie said the district had spent 69.94% of its budgeted expenses and had identified savings in some line items to offset overages elsewhere. She reported revenues exceeded expenditures by about $9.4 million and the current ending fund balance was $26.1 million, down from $27.4 million the prior month. Board members asked follow-up questions about projected collections and where to find the detailed tax tracker in board materials.
Later in the meeting the board approved the consent agenda by voice vote and then moved into executive session for personnel and legal matters. The meeting record includes a motion, second and voice affirmation that the board approved personnel items discussed in executive session; the transcript does not include details of those personnel items.
