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Board hears Q2 financial report; education fund balance $2.51M, administration moves $400,000 to operations
Summary
Administrators told the board the district ended Q2 with $2,514,821.02 in the education fund, $1,088,478.62 in operations and a rainy‑day balance of $347,948.19; the board approved a $400,000 transfer to operations.
District administrators presented the quarter‑two financial report and the board approved a $400,000 intra‑fund transfer during the July meeting.
Dr. Williams reported that the education fund ended the quarter at roughly 18.84% cash balance, equal to $2,514,821.02, while the operations fund held $1,088,478.62 and the rainy‑day fund $347,948.19. The combined cash position was described as about $3.95 million. Dr. Williams also said preliminary calculations put the district at approximately 67.47% under a state spending ratio requirement that was raised this year to 65 percent.
The board moved and approved a quarterly transfer resolution to move $400,000 from the education fund to the operations fund to address near‑term needs; the motion passed by voice vote. Administrator comments noted declining enrollment trends over the last decade and explained that staffing adjustments and position vacancies have been used to manage costs.
The board did not record a roll‑call vote in the transcript. Finance staff will be expected to record the transfer in the accounting system and reflect the change in future financial reporting.
