Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Board accepts financial statements; staff reports roughly $1.97 million positive change in fund balance
Summary
Finance staff told the board that revenues exceeded expenditures by about $1,970,000 this year, bringing the general fund to roughly $7.7 million; the board approved the financial statements and staff explained negative balances in grant-funded funds are due to reimbursement timing.
Finance staff presented the district financial statements and an overview of fund balances, saying the district had a positive change in fund balance for the year. "For this year we have a change in fund balance so revenues minus expenditures of just ... about a million 970,000," the Finance staff member said, and noted a total general fund balance of roughly $7.7 million.
The presenter explained that three funds (special revenue, ESSER, and capital projects) show negative balances because they operate on a reimbursement basis — expenses are recorded before receipts arrive as receivables. The staff also said the district will begin receiving a new reimbursement rate for 'supper' served through the after-school program, which could affect future nutrition reimbursements. The board voted unanimously to approve the financial statements.
The transcript includes a transcription artifact in the phrasing of the fund-change number; reporters should verify the exact figure from the official financial packet or the auditor’s booklet when published.
