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District reports improved reserves; superintendent cites $14.9 million in fund balances
Summary
Superintendent reported unaudited April figures showing total fund balances of $14.9 million, a 3.3% increase (about $477,000) from last year, and noted transportation reporting will show timing adjustments next month. An annual audit is expected in June.
The Nippersink SD 2 superintendent gave the board a fiscal update reporting unaudited figures through April, saying the district is roughly 83% through the fiscal year and has collected about 57% of expected revenues to date. The superintendent reported total fund balances rose from $14.4 million to $14.9 million — described as a 3.3% increase and approximately $477,000 more than the prior year — and cautioned the figures are unaudited until the district's formal audit is completed in June.
Board members asked whether the 3.3% increase is likely to hold through year-end; the superintendent said May and June tax receipts should raise collections substantially and that the transportation fund currently shows timing anomalies because of a new transportation director and reporting gaps that will be corrected next month. He noted the “tort fund” and other internal accounts have timing-specific activity affecting percentages and said he expects to present audited numbers at the summer meeting.
No formal budget adoption or amendments were approved at this meeting; the superintendent indicated more detailed audited figures will be shared in June.
