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CFO: June 30 closing shows $22.6M ending balance after transfers to special revenue and capital
Summary
CFO Lindsey Dugan reported final June 30 figures: general fund starting balance $29.9M, transfers of $4.4M to special revenue and $2.0M to capital projects, leaving an ending fund balance of $22.6M (about 34%).
Lindsey Dugan, the district chief financial officer, presented finalized financials for the fiscal period ending June 30.
Dugan reported the general fund started at $29,900,000; June is typically a high-expense month for teacher contract payouts and final year-end obligations. She said the board authorized transfers of $4,400,000 to the special revenue fund and $2,000,000 to the capital projects fund and that the district is leaving a paper fund balance of $7,400,000 to begin the next year. "You'll see that the majority of things happen in the general fund and special revenue fund," Dugan said.
After transfers and payables, Dugan said the district's ending fund balance was $22,600,000, approximately 34% of fund balance. She explained the transfers covered May and June timing differences and thanked staff for closing the year.
The board accepted the finance report during the meeting; members asked clarifying questions but took no separate action beyond hearing the report and approving the broader consent items that included financial documents.
