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District financial update: FEMA deposits received, two projects nearing closeout
Summary
Administrators told the board the district received FEMA deposits of $98,000 and $750,000 and that two additional projects are nearing closeout; staff estimated about '3.7' from those reimbursements but the transcript did not specify units.
Administrators provided a financial update noting that July revenue lines remain empty until month end and that the district has received two FEMA deposits tied to storm recovery work. Staff said the district has received "1 of those in the amount of 98,000 and 1 of them in the amount of 750,000," and that two additional projects are approaching closeout on the federal side.
Staff told the board that, if those projects meet federal closeout and the state provides written confirmation, the district historically receives deposits about a week after the letter; staff said they currently "think we would get about 3.7 on these 2 project reimbursements," but the transcript does not specify the unit for 3.7 (for example, thousand or million). Administrators committed to emailing the board when official notification arrives and to updating the reimbursement tracker spreadsheet.
The finance presentation included a recommendation that the board receive a monthly ASBR‑style running format that consolidates all funds so the board can view the district's four funds at once (operating funds, teacher salaries, capital/lease purchases, and fund 4). Staff said the district is more heavily locally funded (noted as 67% local revenue in the prior year) and that they carry a larger beginning balance in fund 4 to cover summer projects ahead of an August ballot measure.
What happens next: Staff will notify the board when FEMA closeouts are confirmed, update the tracking spreadsheet and provide consolidated monthly fund reporting.
