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Finance staff Emily outlines $106,000 AP exam appropriation and year-end reserve uses
Summary
Finance staff member Emily reviewed year-end financial items: a roughly $106,000 appropriation for AP exam fees, a $29,500 liability-reserve draw for a legal settlement, transfers over $10,000 to balance year-end accounts, disposal of four food-service items, and letters of recommendation for geotechnical/site surveys at Cube Heights Elementary School.
Emily (finance staff) told the Ithaca Facilities and Finance Committee at the June 16 work session that the committee must adopt several routine year-end resolutions before June 30, including a proposed appropriation of about $106,000 to cover AP exam fees and a $29,500 use of the liability reserve for a legal settlement.
The nut of the review is bookkeeping and compliance: the committee must authorize transfers and reserve uses now so the district's books can be closed for the annual audit. Several line items were flagged for clarification, and staff agreed to correct a packet typo and provide the number of students taking AP exams.
On AP fees, Emily said, "I have an invoice sitting right on my desk that was being paid this week," indicating the appropriation is to cover an existing bill. When a committee member questioned whether the packet listed $105,000 or $106,000, Emily said, "I think it's a typo and I will make sure that is corrected prior to the board meeting." She also said she could provide the exact student count later; the member noted last year's AP-related outlay was about $98,000 and that the district is up this year, but staff did not yet know whether the change reflects higher per-test costs or more students.
Emily reviewed other routine items: a resolution to appropriate transfers over $10,000 to balance accounts at fiscal year end; a resolution to dispose of four pieces of food-service equipment that are taking up space after being cannibalized for parts; and a set of annual resolutions allocating ELAR/EBLAR funds for contractual sick-day payouts and various reserves (capital reserve, employee/teacher retirement, health insurance reserve and other liability reserves). She emphasized final figures depend on the books closing in mid-summer.
The packet also included letters of recommendation for geotechnical and site surveys at Cube Heights Elementary School; Emily asked whether there were questions but no substantive discussion of the surveys occurred in the session. Committee members requested the AP-student counts and confirmation of the corrected packet figures before the full board meeting.
No formal votes were recorded during the work session on these administrative items; several are routine year-end housekeeping items that the board typically acts on before June 30.
