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April financials show healthy balances; board greenlights free elementary meals expansion
Summary
The district's April financial report showed a rolling fund balance of $7.2 million (~8.1% of revenues) and capital-projects balance around $5.6 million; the board noted expansion of universal free meals at three elementary schools this year and addition of Twin City next year.
The Stanwood-Camano School District presented its April financial report during the June 3 board meeting, reporting seasonal increases from spring tax receipts and plans to expand free meals at elementary schools.
Finance staff reported the general fund rolling balance at $7.2 million (about 8.1% of total revenues) and a capital projects fund balance of roughly $5.6 million. The transportation vehicle fund reflected a recent school-bus payment that reduced that fund's balance. The manager's report indicated roughly 6.5% remaining budget capacity after expenditures, salary and benefit encumbrances.
On food services, staff said the district offered universal free meals this year at three elementary schools (Saratoga, Elder Bay and Stanwood Elementary) and plans to add Twin City Elementary next year. The record notes ongoing use of fund balance in food service and said expansion details will continue to be tracked.
Board members asked clarifying questions and staff offered to provide continued detail about budget adjustments and projected summer construction expenditures tied to capital projects.
Quote: "Our fund balance is at 7.2 million and that's about 8.1% of total revenues," the finance presenter said.
