Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Finance update: district projects $9.2M June balance but flags $3M special-education purchase order
Summary
The district reported a projected June 30 cash balance of $9.2 million to cover July payroll but highlighted a recent $3 million purchase order for special‑education services that expanded a tuition‑tax funding deficit; staff expect payroll recoding in May/June to shift $1.5–2M back to state payroll lines.
The board approved the May 1 financial position report and the March 31 monthly financial report, during which Mr. McCoy flagged a large special‑education purchase order and cautioned about next year’s budget.
Mr. McCoy said the May 1 position report projects a June 30 balance of $9.2 million, sufficient to cover an estimated one month of payroll in July. He called particular attention to a $3 million purchase order entered during March for a major contractor that provides registered behavioral technicians and behavioral interventionists; that PO covered back bills and remaining expected needs for the school year.
"During the month, there was a $3 million purchase order entered for one of the major contractors for special education," Mr. McCoy said. "The purchase order covered some prior months, so we had to pay some back bills, and we had also put enough money in the purchase order to cover us for the remainder of the year."
Mr. McCoy said payroll funding adjustments planned for May and early June — recoding paraprofessionals into unused teacher units — historically move $1.5–2 million out of the tuition‑tax line and into state payroll lines and should provide relief. Still, he warned that next year will be a challenge and "we'll need to look at other remedies."
The board voted to approve small prior-year tax refunds totaling $181.80 and accepted the financial reports as presented.
