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Finance update: district near full expenditure, discretionary funds at 100%
Summary
District financial staff reported discretionary funds at 100% and total funds at 97% as of the end of May, with expected year-end spending on planned purchases and a small projected payroll remaining.
Mr. Kirk Kellerman presented the monthly financial report at the June 11 board meeting, reporting district revenue and expenditure positions with one month left in the fiscal year.
Kellerman said the district’s discretionary funds showed 100% of anticipated receipts versus 99% last year, and total funds were at 97% compared with 95% last year. He noted final allocations for a senior property tax credit and recent federal allocations arrived the prior week. Kellerman highlighted planned end-of-year purchases, including an accepted $45,000 quote to upgrade the auditorium projector and screen, and said technology, curriculum and transportation budgets are expected to be spent out.
On payroll, the report showed roughly a $1 million payroll ledger with about $172,000 remaining in the line item; Kellerman said additional Kelly Services expenses may exceed purchase-order estimates by about $30,000, which would reduce that remaining amount. He estimated the district’s usual underspend of about 3–4% would be much smaller this year and suggested final underspend could be closer to 1%.
Board members asked clarifying questions about whether underspending is moved into reserves; Kellerman confirmed that discretionary underspends would be added into local fund reserves.
Next steps: Final year-end accounting and purchase orders will be processed before the fiscal year closes.
