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District reports $16 million in receivables, unassigned fund balance at 23%
Summary
District finance staff told the board the June 30, 2024 fund-balance designation reflects roughly $16 million in receivables (about $11 million from municipal taxes), restricted and committed reserves, and an unassigned general fund balance that equals about 23% of prior-year expenditures.
District finance staff presented the 2023–24 fund-balance designations and explained classification differences between restricted, committed, assigned and unassigned balances.
"We have about $16 million in receivables — 11 million from our municipalities for taxes that they don't pay us until August," the presenter said, explaining timing-driven variances between cash on hand and the reported fund balance. Staff noted that the fiscal reporting convention records those receivables in the fiscal year ending June 30, which affects the fund-balance totals.
The presentation outlined restricted funds (grants and specific-purpose accounts), committed reserves for capital and technology leases, and assigned funds for planned projects. Staff emphasized that unassigned fund balance stood at approximately 23% of the prior-year expenditures — above the district policy floor of 15–20% — and described how the balance is used to manage cash flow and avoid short-term borrowing ahead of tax receipts.
Board members asked for clearer future reporting and requested a workshop to walk through the designations and replenishment procedures before the next budget cycle. Staff said the numbers will also appear in the audit report later this year and that any use of committed funds during the year would return to the board for authorization.
