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Board hears budget amendment: revenues up $3.2M, expenditures up $5.62M; finance staff warns fund balance will need monitoring
Summary
A finance staff member presented a budget amendment due to the state by June 15, reporting a $3.2 million revenue increase, a $5.62 million increase in expenditures and a projected near-50% decrease in the general fund balance under worst-case assumptions; the presentation cited a $463,000 summer feeding program cost and over $1 million in one-time grants.
A finance staff member presented a required budget amendment, explaining the district must amend the approved budget to reflect new allocations, grants and actual revenues and expenditures. The presenter said revenues increased by $3.2 million while expenditures rose by $5.62 million and described the projected reduction in the general fund balance as "an absolute worst case scenario" that requires monitoring.
The presenter said the amendment includes funding for participation in a summer feeding program estimated to cost about $463,000; they noted that Community Development Block Grant (CDBG) funds are a major revenue source tied to that program. The staff member also listed more than $1 million in one-time revenues for student supports, including math intervention, summer camps and special education services.
During questions, a board member pressed about the $5 million variance in expenditures. The presenter attributed most of the variance to participating federal programs, new grants and personnel costs tied to those programs, and warned that federal program allocations may be stagnant or decline in coming fiscal years.
The presenter said the state requires at least two budget amendments each year and that the amendment must be filed by June 15. No formal vote was recorded in this segment; the amendment was placed before the board as part of the agenda items.
