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District finance report flags special-education funding and near-term cashflow needs
Summary
The district’s finance report showed timing problems in cashflow, noted a $271,914.98 shortfall owed from capital outlay to the general fund, and said special-education reimbursements hinge on extraordinary-cost funding and state aid arriving later in the spring.
Speaker 3 presented the monthly financial report and highlighted timing issues that could affect payroll and operations in coming months. The report said the capital outlay fund still owes the general fund $271,914.98 and the capital outlay fund had deposited $190,115.09 to the general fund; it also noted the special education fund will likely not be reimbursed until after an extraordinary-cost application is processed and state aid arrives in April. "The capital outlay fund still owes the general fund $271,914.98," Speaker 3 reported.
Speaker 3 described steps to manage cashflow: plans to cash a maturing certificate of deposit to ensure payroll coverage and use of an imprest fund for tournament-related expenses. The board asked clarifying questions about the extraordinary-cost fund (discussed in committee at the state level) and about shifting certain insurable costs into capital outlay. No budget-line changes were approved at this meeting; a motion to accept the financials carried by voice vote.
