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Board hears finance report: $5.3M unassigned funds, instruction ~54% of expenditures
Summary
District finance director Tammy Houghton told the board that instruction represents roughly 54% of expenditures (about $8,750 per student for instruction), the unassigned Fund 11 balance is about $5.3 million, and lease purchase payments tied to capital projects will begin in December.
Tammy Houghton, presenting the district financial statement, summarized revenue and expenditures and key budget indicators to the Webster County Board of Education.
Houghton told the board that instruction accounted for approximately 54% of total expenditures and that this equates to about $8,750 per student when considering instruction only. She reported the district's unassigned fund balance (Fund 11) at $5,300,000, an increase of about $500,000 from the prior year. Houghton also said total per‑student expenditures including supporting services are roughly $15,400 when the lease purchase is counted.
On capital projects, Houghton said $3,500,000 tied to a lease purchase is included in the balance sheet and that payments on that lease are scheduled to begin in December; the payment schedule was noted as budgeted. She signaled that invoice payments submitted to the district's fiscal agent are processed quickly.
Board members asked clarifying questions about line items (transportation, student services, and a $7,555 headphones line). Houghton encouraged board members to follow up after reviewing the packet and offered to provide additional details on request.
The report closed with a reminder that the first lease interest payment is due in December and that the principal payment is budgeted for June.
