Finance director walks board through 2024 audited statements, grants and equalization changes

Scott presented the audited financial statements for fiscal 2024 and oriented members to the general fund and state revenue categories, noting that "the state is the majority of our revenue, 21,800,000 last year." He highlighted three items extracted from the state's totals: a flexible allocation (previously about $1,000,467 that has since been greatly reduced), a $3,800,000 small-school capital safety grant already received and earmarked for a middle-school gym replacement, and declining equalization payments that had peaked at about $1.6 million and have since fallen toward zero as the district experiences property-value growth.

Scott explained that the flexible allocation is vulnerable to legislative changes, and that the one-time grant inflates fund balances for the audited year; the district expects to spend most of that grant across the current and next fiscal year. He cautioned members to watch property-tax and equalization implications when setting the local rate in June.