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Geneva City Schools board approves quarterly financials; reserves down slightly at fiscal-year end
Summary
Miss Kim presented finalized financials for September–November; reserves fell from 4.83 to about 3.86 months at fiscal-year end but have since recovered to roughly four months. The board approved the three months of financials and discussed upcoming budget amendments and additional allocated funds.
At its January meeting the Geneva City Board of Education approved the district—s financial statements for September through November after a presentation by Miss Kim and brief board discussion.
Miss Kim told the board the state finalized September financials in December, producing an available three-month package (September, October and November) for approval. She said the district—s reserve declined from 4.83 months to about 3.86 months at the end of the fiscal year, but that reserves had "climbed back up" and were now around four months.
Board members discussed timing for an amendment to reflect newly allocated funds received after the approved budget. Miss Kim and district staff indicated they will prepare a budget amendment once end-of-January payroll-related items (W-2s, 1099s) are complete, with the goal of presenting the amendment in a future meeting, possibly March.
The board moved and seconded approval of the three-month financials and approved them by voice vote. No roll-call numbers or dollar-level line items were included in the oral presentation recorded in the transcript.
The board asked staff to prepare the amendment and follow up on posted materials so the public can review the updated budget when it is presented.
