Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Report topic
No spam. Unsubscribe anytime.
Midyear projections show modest surplus; board weighs higher substitute costs after vendor change
Summary
Finance staff reported midyear projections with an estimated year-end balance of about $168,572 and a projected $34,000 net return; the board discussed supplemental Medicaid claim recoveries and higher substitute costs after switching from Kelly to ESS (higher fill rate but greater expense).
Finance staff reviewed midyear financial projections and supplemental spending items. The projected year-end balance was reported at about $168,571.75, and staff estimated a $34,000 net return after anticipated revenues and expenditures and adjustments for one-time items.
Ryan explained supplemental items that affect the current-year figures, including recovered Medicaid claims from a previous vendor and seed grant funding. The board discussed substitute staffing: the district switched from Kelly to ESS for substitute coverage; ESS has delivered higher fill rates but higher costs per fill. "We're getting better coverage from them," Ryan said, noting ESS's fill rate can reach roughly 80% compared with Kelly's lower historic fill rate. Board members said the higher coverage benefits students but raises current-year budget costs.
Members asked about encumbrance practices. Staff explained that salaried positions are encumbered while most hourly wages and medical costs are not, which can make some budget lines appear to have unencumbered funds midyear. The finance team said they will provide more detailed end-of-year projections to the board in April or May and will circulate financial materials to subcommittee members ahead of scheduled meetings.
