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Finance report: Kelly says revenues $7.7M, fund balance below budgeted target
Summary
Kelly, presenting the district financial report, said the district has received $7.7 million (105% of budget) in revenues, expenditures of $5.1 million, a current balance around $2.6 million and an estimated year-end fund balance of roughly $1.4 million—below the $1.5 million budget target.
Kelly, who presented the district financial report, told the board the district’s revenues to date totaled $7,700,000 (about 105% of budget) and expenditures were $5,100,000 (about 69% of the budget), leaving a current balance near $2.6 million.
"Revenues received to date total 7,700,000 or a 105% of budget," Kelly said, adding the district’s estimated year-end fund balance is approximately $1.4 million—short of the $1.5 million the district had budgeted. Kelly cited a roughly $120,000 negative adjustment to the state school fund this year and said a larger-than-expected federal forest fee payment (about $89,000) helped offset some of that loss.
Kelly explained encumbrances for utilities and services will likely reduce reported expenditures later as purchase orders close, which could improve the year-end position. Kelly also noted that February–March state estimates drive budget assumptions and that a recently released state estimate dropped, which could reduce state school fund dollars next year; an ADM count change of about 6.5 students also affected projections.
Kelly closed by noting this was her last meeting with the board and thanked members for their collaboration during her tenure.
