Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Finance director briefs board on year-end closeout and audit-driven budget shifts
Summary
Finance staff told the board the district leaned on capital outlay for the new school, audit adjustments affect final legal maximum budgets, and the audited legal max for the supplemental general fund was slightly lower by a few hundred dollars.
Brett Bauer briefed the board on the district's year-end closeout and explained why the final audited legal maximum budget can differ from the original approved budget. Bauer said the district 'had to lean on capital outlay this year' for costs tied to opening a new school building and that audit adjustments, enrollment audits and weighting changes can alter the final legal max.
Bauer told the board that "the legal max, the final audited legal max for supplemental general was also slightly less by a few $100," and reminded trustees that certain categorical aid and enrollment weightings are updated after spring submissions and state audits. Board members asked clarifying questions about how those adjustments occur and whether the levy or supplemental general fund authority changes as a result; Bauer replied that the levy is fixed and the district is limited by the lesser of the published budget or the final legal max.
