Lexington 2 finance report shows surplus and prompts questions about pupil-activity funds and portable AC repairs

CFO Skye Strickland presented the district’s unaudited financials for June and an initial July summary at the Aug. 15 meeting, reporting total revenue of $109,646,413 against a total revenue budget of $107,263,719 for the fiscal year ending June 30 (about 102% of budget) and noting local sources and state receipts by line item.

Board member Miss Casler asked about an apparent excess of $2,558,779.52 over the local revenue budget and whether that amount is recorded to fund balance; Strickland replied that unaudited year-end excess is netted against expenses and would become fund balance after the audit is complete. She repeatedly cautioned the figures are unaudited.

Casler also pressed the district on pupil-activity account declines and why football-related items appeared frequently in the line-item summaries. Strickland said the report is a summary and the district would need to review individual school line items to explain decreases at particular campuses.

Separately, board members asked whether leftover PAC contingency (approximately $75,000 reported as of June 30) could be used to address portable-classroom air-conditioner repairs. Operations staff and facilities leadership said typical practice is to hold construction contingencies for about one year to cover post-occupancy issues; they also said parts lead times are delaying full repairs and that they are working with vendors to obtain replacement boards and mitigate noise impacts for teachers and students.

The meeting record identifies the ESSER grant award at $22,958,337, with a remaining balance and encumbrances noted in the CFO’s August report; Strickland reported the district had spent roughly 71% of the grant as of the dates presented and had outstanding encumbrances for several projects.