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Finance update: bank reconciliation pending, auditors scheduled; board weighs switching travel reimbursements to GSA rates
Summary
District finance staff told the board the bank reconciliation was incomplete because a bank statement arrived late; auditors will be on site Feb. 4–7; staff proposed aligning travel reimbursements with GSA/IRS locality rates and will bring a travel-policy revision back to the board.
A district finance presenter told the board that the bank reconciliation for the period had not been completed because the bank statement from Burke & Herbert arrived late; the presenter said the numbers provided were pulled from the system and that any reconciliation adjustments will be circulated if they change the report.
The presenter noted FY25 expenditures to date totaled about $9.3 million compared with roughly $11 million at the same point in FY24, explaining a known pension adjustment usually accounts for most of that year-to-year difference. The board was told auditors are scheduled to be on site Feb. 4–7 and that staff will provide required paperwork.
On travel reimbursement, the presenter said the state is encouraging districts to use GSA/IRS locality per-diem rates for meals and discussed how per-diem is reduced to 75% for partial travel days. The presenter asked the board for feedback on updating the travel policy to align with GSA rates and said a draft policy would be circulated for board review.
The board asked clarifying questions about the timing of transfers and reconciliation; the presenter said transfers into Grant County Bank are planned for Jan. 24 after accounts-payable processing. No final policy action was taken; the item was informational and staff will return with proposed policy language.
