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Finance staff outlines $3.3M in year-end adjustments, including $1.8M Medicaid reimbursement
Summary
Finance staff told the board about $3.3 million in amendments as they closed out the year. Major items include a roughly $1.8 million Medicaid reimbursement, a $328,000 child-nutrition fund balance appropriation, and smaller reallocation from NCDPI of about $60,000.
Miss Sutton, presenting the year-end financial amendment, told the board the net change across funds was about $3.3 million as the district closed fiscal year 2025-26.
The largest components of the amendment were Medicaid reimbursements (about $1,800,000) and several grant-related adjustments, Miss Sutton said. She explained that federal increases of a little over $60,000 came from an NCDPI reallocation and that the child-nutrition program had to use roughly $328,000 of its fund balance after USDA reimbursements came in below projections.
Members asked for clarification about a $173,000 vendor refund tied to a technology contract and were told the vendor failed to meet repair obligations; the district will use some of that funding for in-house repairs and will bring a September contract with Applied Data Technologies for additional repair work.
Finance staff said these are final close-out amendments and that the adjustments align budgets with actual expenditures from June and to ensure available funds are carried forward appropriately.
