Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Finance report: district posts $32M in revenue; June purchase services spike raises forecast variance
Summary
Fairfield Union Local’s finance presenter reported year‑end revenue just over $32 million, expenditures about $28.9 million, a $400,000 variance driven by elevated purchase services in June, and utility costs about $100,000 above estimate; insurance claims were modestly higher but overall plans remain stable.
The Fairfield Union Local school board heard a year‑end finance and insurance report showing overall revenues of just over $32 million and some one‑time variances that affected the final numbers.
Finance presenter Houston Roberts reported total revenue of just over $32,000,000 for the fiscal year, up about 3% from the prior year and essentially on the district’s forecast. Expenditures for the year were approximately $28.9 million. Roberts said a June spike in purchase services increased expenditures by about $400,000 above forecast and that the month of June nearly doubled the district’s typical monthly purchase‑services costs.
Roberts highlighted salary and benefits stayed near forecast: salaries were about $16.1 million (up about 5% year over year) and benefits were just under $6.6 million. Special education costs were about $150,000 higher than anticipated for the year. Utilities were notably above estimate — electricity increased by about $69,000, gas by $6,700 and water and sewage by $22,000 — for a nearly $100,000 total utilities overage.
Roberts said the district ended the year with approximately $11,022,006.77 in fund balance. On insurance, he reported health‑plan revenue just under $5.5 million and total health expenditures up about 11% year over year; claims were only about 5% higher but stop‑loss reimbursements had an impact on net results. Roberts said the district planned for larger stop‑loss usage but ultimately needed about $33,000 rather than the $360,000 they had estimated drawing from the fund.
Board members had an opportunity to ask questions about the June purchase‑services spike and insurance stop‑loss; Roberts said he would follow up as additional reimbursements and detail become available. The consent agenda was approved after the finance report.
