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CFO reports preliminary positive year-end position; board approves appropriation transfer resolution
Summary
CFO Dan Peterson reported preliminary June 30 financials showing revenues at about 91% and expenditures about 88%, with a preliminary excess of roughly $2.114 million; the board approved resolution 26-27-02 to transfer a $280,000 miscategorized appropriation.
Dan Peterson, the district chief financial officer, presented preliminary year-end financials and an appropriation-correction resolution. Peterson said the district's revenue-to-date was about 91% and expenditures roughly 88%, and he reported a preliminary excess of about $2,114,000, noting that period-13 adjustments and the audit could change final numbers.
Peterson described a $280,000 miscategorization in the 2.42 fund that the proposed resolution would correct; he said the total appropriations remain unchanged and the resolution simply transfers the appropriation to the correct function. "You'll see that the revenue for the year exceeds the expenditures by 2,114,000," Peterson said. The vice chair moved to approve resolution 26-27-02 transferring appropriations within the 200 fund; after a second from the chair, the board voted by voice and the motion passed. Peterson and several board members discussed building reserves and potential board policy for contingency funds.
