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Treasurer says district is 'on track' through March but projects a modest year‑end shortfall
Summary
The district treasurer reported a March year‑to‑date general fund balance of about $17 million, revenue of $32M against a $39M budget and projected a roughly $0.5M deficit for the fiscal year while noting a 142‑day cash balance and state funding uncertainties.
The Goshen Local Board of Education heard a March financial update showing the district entered the fiscal year with a $16 million beginning balance and has collected $32 million in revenue so far against a $39 million budget. Year‑to‑date expenditures total about $30 million, leaving an estimated $17 million on hand.
The treasurer framed the numbers as roughly on target: "Our revenue that we've got so far is 32 million out of the 39," the treasurer said, and noted that the district is "tracking pretty close" to budgeted figures. Compared with last March, the district showed an increase in ending balance of about $1.6 million.
Expenditure increases of approximately $3 million year‑over‑year were attributed largely to salaries and benefits (about $1.1 million), purchase services (about $1 million) and capital/operational needs such as kitchen equipment replacement. The treasurer said interest income has dropped compared with prior months, contributing to a roughly $400,000 revenue decrease compared with last year.
The report said the district’s fund balance represents roughly 142 days of cash on hand and that projections in the packet indicate the district may end the year roughly $0.5 million over budget if current trends hold. Trustees discussed potential impacts of pending state legislation on local funding and noted that while no levy was planned now, changes to state funding formulas may affect future decisions about local levies and millage calculations.
Trustees asked the treasurer to re‑distribute a corrected slide with clarified numbers and to continue monitoring final settlement receipts and state foundation dollars, which remain expected later in the fiscal year.
The board did not take separate formal action on the treasurer’s report beyond including it in the consent/financial approvals later in the agenda.
