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Board approves budget amendment #2 after reviewing December statements and revenue adjustments
Summary
Finance staff reviewed December financial statements (year-to-date revenue and expenditures) and the board approved budget amendment #2 to adjust senior tax revenue estimates and correct classification errors; the warrant list was discussed and approved separately.
Nishon Hunter, the district's director of business and finance, presented the December financial statements and proposed budget amendment #2.
Hunter said year-to-date revenue for December totaled just over $10,000,000 and year-to-date expenditures were nearly $13,000,000, with salaries and benefits comprising about 77% of the budget. She noted recent curriculum-adoption spending of roughly $232,000 and explained a correction to senior tax revenue estimates: an earlier estimate of a $500,000 decrease was refined to a $313,000 decrease, leaving an $186,000 adjustment to be added back into the budget in the amendment.
Budget amendment #2 also includes revenue reclassifications and corrections to object-code assignments, and staff said the amendment should improve the fund-balance outlook. The board discussed the warrant list (checks) and one member raised concern about receiving a reimbursement check before the warrant list was approved; the finance director said she would follow up.
After discussion the board approved budget amendment #2 and subsequently approved the warrant list. The board also approved tuition rates for preschool and Discover Club during the same action-items block.
