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May fund report: education fund declines after three-payroll month, business officer says
Summary
The district's business officer reported the education fund fell from $5,207,786 to $4,908,840 in May, attributing the decline to a three-payroll month and spring ECA coach payments; rainy day fund remained about $1,000,005.68.
At the meeting's business report, the district's business officer presented the monthly fund report as of May 31. He reported the education fund decreased from $5,207,786 at the beginning of May to $4,908,840 at the end of the month, explaining the primary cause was that May included three payrolls and additional payments to extracurricular activity (ECA) coaches that occur semiannually.
The officer also reported debt-service, referendum and operations balances (debt service rose slightly, referendum and operations figures were provided in the reading), noted early receipt of CVET and financial-institution tax disbursements, and said the rainy day fund remained unchanged at $1,000,005.68. He framed the decrease as a timing issue tied to payroll cycles rather than an unexpected shortfall.
No formal action or vote on the fund report is recorded in the transcript; the board proceeded to other business.
