Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Finance topic
No spam. Unsubscribe anytime.
Board reviews monthly finances and draft audit; treasurer flags timing of tax advances
Summary
The treasurer told the board general fund revenues were lower in February because $1.3 million in tax advances from the county arrived later than usual; interest earnings for the month were reported at $103,900, enrollment was cited as roughly 3,238 and the district is tracking possible equipment replacement costs for aging ovens.
District finance staff presented the monthly financial report, telling the board that general fund revenues were down in February because the Fairfield County auditor delayed tax advances into March, producing a roughly $1.3 million timing shortfall that had since been received.
The treasurer reported interest earnings of $103,900 for the month and said investment activity is concentrated in STAR Ohio because of relatively higher returns. Enrollment was noted at about 3,238 students, approximately 40 fewer than the prior year, and the treasurer said total expenditures for the month and outstanding encumbrances were provided in the board packet.
Food-service figures were discussed: the speaker said cafeteria receipts are down about $104,000 year-over-year (attributed to expanded free meals), while lunches served increased by roughly 4,000 per month compared with last year. The treasurer and staff proposed operational changes (such as second-floor breakfast carts) to increase participation and reimbursement.
In a separate agenda segment, the board reviewed a draft audit and management letter from the district's CPA. Staff said the audit finding centered on capital asset accounting—double-counting and depreciation reconciliation errors—and that a physical inventory and inventory software for noncapital items had been completed. The treasurer characterized the CPA issues as accounting errors, asserting there were no cash-management problems.
No substantive budget adjustments were approved at this meeting; the board reviewed the reports and approved the financial report by roll call.
