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Bentonville schools report $78.8M fund balance; C Street property to be appraised
Summary
At the May 19 meeting the district reported a year-to-date fund balance of about $78.8 million, noted operating expenditures exceeding revenues by $3.6 million (expected to reverse with May tax receipts), and authorized a broker opinion and an appraisal process for a C Street property estimated at $175,000–$225,000.
District finance leadership told trustees on May 19 that Bentonville School District’s overall fund balance sat at approximately $78,800,000 as of period 10 and that operating expenditures currently exceed revenues by about $3,600,000, a gap the presenter said is expected to reverse with May tax receipts.
“If you look at our fund balance for all funds, we’re at 78,800,000. That’s up about 13,200,000 over prior year,” Dr. Schwannhauser told the board. She said the operating fund balance is roughly $38,600,000, representing about 14.6%.
Schwannhauser also updated trustees about a potential sale of a district-owned parcel on C Street. The district has engaged Moses Tucker Partners for a broker’s price opinion estimating the property value at roughly $175,000–$225,000 and will obtain an appraisal through O’Brien Right of Way Valuations at an estimated cost of $5,000 and a 4–5 week turnaround.
Trustees asked no substantive follow-up questions during the presentation and later voted to approve the financial report amid routine motions and seconding. The presentation noted the district is about 83% through the fiscal year and approximately 70% through expected operating expenditures.
Next steps: the district will proceed with the appraisal process and continue to update the board as any listing or sale process advances.
