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Ridgefield district reports stable finances, capital levy receipts and $400,000 Chromebook purchase
Summary
Executive director Paula McCoy said revenues are up for April (driven by property taxes), noted a $400,000 Chromebook purchase as a one-time April expenditure, and reported about $3.2M in capital levy receipts and $2.9M in impact fees committed to the new elementary school.
The Ridgefield School District reported a mostly positive monthly financial picture while flagging near-term cash-flow timing differences that will reduce available revenues in May and June.
"April is a little bit higher than our projection'—May will likely be a little bit lower," Executive Director of Business Services Paula McCoy told the board, noting a spike in April property-tax remittances. McCoy said one large April expenditure, a $400,000 Chromebook purchase, created a month-specific distortion in expense reports.
Enrollment trends are mixed: brick-and-mortar headcount is down about 32 students while Wisdom Ridge (the district's online program) is up roughly 39 for the year, McCoy said. Special education preschool FTEs increased as more three-to-five-year-olds qualified for services.
On capital projects, the district reported it has collected about $3.2 million from the new capital levy and roughly $2.9 million in impact fees, all of which have been obligated to complete the new elementary school project. McCoy said reimbursements from the state (eligible after expenditures) are pending and that further reimbursements of over $1 million are anticipated.
The board also received a construction update on Sunset Ridge Elementary: rooftop HVAC units are being installed, new curbing and playground equipment are in place, accessible surfacing is being prepared and interior finishes are near completion.
What happens next: the district will continue billing for reimbursements, track May/June cash-flow changes tied to state apportionment timing, and proceed with capital work funded by levy and impact fees.
