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Echo SD 5 staff reports October receipts; nutrition program balance addressed
Summary
At an Echo SD 5 board meeting, the finance staff reported October property tax collections of $667, basic school support of $387,798 and interest earnings of $19,680; the board discussed rules requiring districts to spend down excess nutrition program balances and approved a submitted plan.
The board heard the monthly financial report, during which the district's finance staff said, "In October, you received property tax collections of $667, which is a little bit low, but not anything of concern." The staff also reported a basic school support payment of $387,798 and interest earnings of $19,680.
The staff explained the nutrition program excess operating balance rule and the district's response. "The district is not allowed to carry more than three months of operating revenue or operating expense," the staff member said, and when a program exceeds that threshold a spending-down plan must be submitted. The district worked with staff to identify equipment replacements and new purchases and submitted the plan to the Oregon Department of Education (ODE), which approved it.
Board members asked for clarification about a few invoice descriptions and a vendor line; staff agreed to double-check vendor/service details. The finance presentation closed with the board voting to carry the consent agenda that included the financial materials.
