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Finance committee explains unfavorable variance: post-forecast roofing contract and ESSER spending cited
Summary
Finance chair Shireen Fountain told trustees an approximately $917,000 roofing contract and timing of advances after the five-year forecast caused an unfavorable $900,000 variance in the June financial snapshot, and staff described ESSER-funded classroom investments.
The East Cleveland City School District's finance committee presented the monthly financial reports and answered detailed questions about variances that showed an unfavorable $900,000 expenditure trend compared to the district's five-year forecast.
Shireen Fountain, the finance committee chair, said the primary reason for the variance was a resolution authorizing a Prodigy Business Solutions contract for the Chambers roof (part of an approved five-year scenario) that posted after the five-year forecast was filed, increasing expenditures in the snapshot. Fountain said advances and transfers approved in June also altered the appearance of revenue and expenditures in the June snapshot, and that roughly $1,645,596 in advances would be returned to the general fund, which will flip some line items in later reports.
Staff summarized how the district used ESSER (federal) funds: funds were directed largely into classrooms, updating facilities and technology, producing an above-average per-student spending figure the presentation described as roughly $15,000 per student while the ESSER funds were in use. Trustees asked for and received explanations about revenue timing, grants that remain pending approval and the difference between snapshot comparisons and longer-term forecasts.
The board accepted the financial reports and approved a resolution to return advances to the general fund; trustees asked staff to provide follow-up documentation and to circulate answers to questions submitted in advance.
