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Board approves $3.51 million in bills, accepts clean audit and designates 2023–24 fund balance
Summary
The board approved $3,509,840.13 in bill payments (including a large JP Cullen construction invoice), accepted the 2023–24 financial audit with no material weaknesses, and designated the 2023–24 fund balance to cover short‑term expenses; staff noted roughly $6.8 million set aside for the first 2½ months of operations.
The Hamilton School District board on Dec. 16 approved final financial items for the year, including bill payments totaling $3,509,840.13 and acceptance of the 2023–24 financial audit, which staff described as clean with no material weaknesses or significant deficiencies.
During Buildings & Grounds and finance committee reports, staff highlighted a first large invoice from JP Cullen — the general contractor for referendum construction — for more than $500,000, and noted referendum‑related roofing and high‑school costs in the bill package. The board moved and approved the bill payments.
The board also approved the management letter and audit report for 2023–24; staff emphasized adherence to GASB standards and thanked the business office, naming finance staff who supported the work. There were no findings rising to the level of material weaknesses.
Finally, the board approved designation of the 2023–24 fund balance as presented. Staff said the designated balance includes approximately $6.8 million intended to cover about 2½ months of short‑term expenses (July through mid‑September) to maintain cash flow before revenues arrive; staff noted carryover grants and restricted funds (library and career‑tech grants) are included in the totals. The board carried the motion.
The board took no additional budgetary action tonight; staff said final per‑pupil numbers and conservative allocations will be finalized when state numbers arrive in mid‑January.
