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Finance director projects $2.65 million ending general fund balance; flags possible transportation recoupment risk
Summary
Finance presenter Kim reported a projected June 30 general fund ending balance of $2,650,000 (about 9% of the $27,000,000 general fund) and described roughly $13 million in non‑general fund activity. Kim warned that changes to transportation cost‑per‑student rankings could trigger a state recoupment of about $300,000.
Kim, presenting the district’s financial update, told the board that the May month close is complete and that June accruals remain to be finalized by the formal audit. Kim projected a June 30 general fund ending balance of "$2,650,000" versus a budgeted $2,500,000 and noted that the general fund total is about $27,000,000, so the projected balance represents roughly 9% of that fund.
Kim explained that the district operates with a modified accrual basis and that about $13,000,000 of the district’s activity sits outside the general fund (grant funds, student activity funds and interfund transfers). Kim also alerted the board to a potential transportation funding risk: if the district’s transportation cost per student ranking changes, the state could seek to recover about $300,000 of the district’s funds. Board members asked for a finance work session to review fund accounting and to see graphs and additional detail.
Kim said staff will present a finalized June 30 ending fund balance at the next meeting after accruals and the formal audit process are complete.
