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District finance update: April cash balance, transfers and Chiloquin Elementary seismic project completed under budget
Summary
District finance staff reported an April 30 cash balance of $27.4 million (about $16.9M in LGIP), summarized revenue and expenditure balances across funds, and said the Chiloquin Elementary seismic project completed for $2,471,043 — about $28,000 under the original $2,499,000 award.
A district finance presenter updated the Klamath County School District Board on the month ending April 30, reporting a cash balance of $27,400,000 with about $16,900,000 placed in the Local Government Investment Pool (LGIP) to earn higher interest.
The presenter described major revenue sources — including approximately $74.6 million identified as state school fund receipts — and said local resources to date totaled about $20.8 million. He noted the district’s general fund budget of about $119 million and said current spending levels are broadly in line with projections (salary and benefits account for roughly 74.48% of general‑fund expenditures year‑to‑date). The presenter also listed transfer activity to reserve and construction funds (approximately $2.5 million) and projected a year‑end fund balance near $8.6 million with movement expected through June.
On capital projects, staff reported that the Chiloquin Elementary seismic project — originally estimated/awarded at $2,499,000 — was completed for $2,471,043, leaving an approximate savings of $28,000. The project required an extension to Dec. 31 but was finished in time for staff and students to occupy the building; some construction activities continued while school operated.
No additional board action was required during the report, though members asked clarifying questions about reserves, transfers and year‑end projections.
