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PCSD finance staff report modest net gains; trustees and staff identify and begin to resolve a $4.6 million projection discrepancy
Summary
PCSD's finance reports for January and February show small net gains year-to-date; during legislative and budget updates staff and House budget staff identified a $4.6 million projected reduction tied to an erroneous enrollment figure used by the state department and have begun coordinating corrections.
The board received monthly financial updates and an external-affairs briefing on March 19, where staff also reported and began resolving an apparent budget-projection discrepancy that briefly showed a $4.6 million reduction to PCSD funding.
Finance staff presented the January report showing roughly $130.7 million in revenue, $130.6 million in expenditures and a year-to-date net gain of about $78,263; the February report showed revenue of more than $150 million, expenditures of about $149.9 million and a net gain of about $116,998. Staff told trustees they plan a budget amendment next month to reflect higher forecasted revenue.
During the legislative update, Brad Henry said the House'calculated projections initially produced a $4.6 million reduction for PCSD caused by the Department of Education using an enrollment figure of 28,818 rather than PCSD's submitted projection of 30,147. Henry and finance director Nick worked with House budget staff (Mark Trudell) to identify the discrepancy; staff said they are coordinating a correction with the department and do not expect the cut to stand.
Trustees approved acceptance of both the January and February financial reports by voice vote. Staff said charter schools remain engaged with budget negotiations and that PCSD is monitoring projections as the legislative process continues.
