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District finance update: local tax revenue trending low, salaries at 82.6% of budget
Summary
In the financial report, staff said local tax revenue is trending about $80,000 low for the year and that salaries and associated costs are approximately 82.6% of the budget; budget development is ongoing ahead of the May budget meeting.
Josie Turner presented the financial report to the board and said the district is "trending low in local tax revenue this year" and that current estimates put the district about $80,000 short in local-source revenue for the fiscal year. Turner also told the board salaries and associated costs are currently about 82.6% for the year-to-date, and noted budget development is underway ahead of the May revenue forecast that will inform final numbers.
Board members acknowledged the uncertainty tied to the May revenue forecast and that the budget process may extend into the summer if state figures change. Turner said there were no other major surprises in the packet and staff will continue updating numbers as state data becomes available.
