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Board hears financial report showing $173,001.31 negative balance tied to state aid reduction
Summary
During review of monthly finances, the board discussed a negative $173,001.31 figure tied to a PCP/RPCP state general aid reduction and affirmed the goal of keeping activity accounts near zero while staff investigates a likely miscoded deposit in the music account.
Board members reviewed the monthly financial statements and discussed a negative balance of $173,001.31 that staff said reflected a PCP/RPCP state general aid reduction affecting vouchers.
Joanie asked for clarification about the negative $173,001.31 and whether the number had grown since the board last discussed transparency around net accounting. "So the negative $173,001.31, so that's literally what the what we had to pass along for the vouchers," Joanie said while reviewing the report. Finance staff explained the figure reflects ins-and-outs of state aid adjustments and described the district’s approach to net accounting for future transparency.
Board members also discussed activity accounts, noting the music department’s account appears to be missing a deposited amount that staff are working to recode to bring those activity accounts back toward zero. After discussion the board approved the financials as presented.
Why it matters: the reported state aid reduction produced a material negative number on the monthly reports; staff indicated they will continue to reconcile activity-account deposits and provide clearer net accounting going forward.
