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CFO reports 55.6% year‑to‑date spending and one‑time $300,000 lease accounting adjustment
Summary
CFO Miss Crosby told the finance committee the district has used about 55.6% of its FY budget as of 04/04/2025, highlighted a $1,577 transfer and the removal of a lease accounting item that freed roughly $300,000, and warned of possible audit and county‑channel bills coming before year‑end.
At the finance committee meeting the CFO, identified in the transcript as Miss Crosby, presented the year‑to‑date budget report dated 04/04/2025 and said the district had used "55%, 55.6% amount used as of the fiscal year." She reported a $1,577 budget transfer earlier in the year and explained that an anticipated lease accounting transaction was no longer required, which produced approximately $300,000 in one‑time savings by removing those capital lease accounting requirements from departmental budgets.
Crosby also flagged auditing services and an ongoing procurement audit that may generate additional billing, and she said the finance team is awaiting a large billing from the Beaufort County channel and for certain technology licensing invoices. When asked whether the county channel bill typically runs about $60,000, Crosby confirmed that figure as the expected magnitude. Committee members asked for clearer notations in the transparency and financial reports explaining timing differences for vendors (for example, why ABM or BrightView appear in different fiscal years), and staff agreed to add explanatory rationale in future reports.
