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EPIC reports $58M carryover, finance director says fiscal picture 'healthy'
Summary
EPIC finance staff told the board the district is showing a carryover of about $58 million while closing encumbrances; officials said roughly $5 million of unrealized expenses relate to the learning fund and FY27 projections include adjustments to purchase orders.
The finance presenter told the EPIC board the district is in a "very healthy" financial position, with a current carryover shown at $58,000,000 though the figure is not final as the district closes encumbrances.
In a presentation, the finance director said the district has about $3,300,000 in outstanding warrants and noted the fiscal year included about $4,000,000 of additional revenue compared with the original budget (a variance roughly 1.5 percent). He described expenses as running below budget—"about 9.8%" lower for the year which partly produced the larger carryover. The presenter also said roughly $5,000,000 of unrealized expenses were attributable to the learning fund.
Board members then moved to acknowledge the financial statements as presented. The motion passed on a roll-call vote. The director cautioned the carryover amount could change slightly as purchase orders are finalized before the board submits its final report to the state.
