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Finance director: year-to-date spending and revenues near parity; capital payments drove higher expenses
Summary
District finance staff presented the July–October budget snapshot showing 16.9% of budget spent and 16.8% received YTD, with salaries up and capital-project payments responsible for the bulk of month-to-month expense increases; the board accepted the report.
Jake (speaker 5) presented the district’s budget report for July through October, noting that roughly one-third of the fiscal year has elapsed and year-to-date spending was 16.9% while receipts were 16.8%.
Line-item details: salaries 5.5% of budget to date, benefits 2.5%, purchase services 1.8%, supplies 1.9%, equipment/property 4.9%, and a single debt interest payment of $154,000. Jake said benefits were 2% higher than last year and salaries about 11% higher (partly due to an ESP bonus paid Oct. 31). He told the board that nearly $5–6 million of the year-over-year expense increase reflected capital project payments that all fell in the same month.
Jake said the district submitted about $566,000 in grant reimbursement requests in November and expects most property-tax receipts in December. He also reported that auditors are finalizing the draft audit and will present to the board in December. Following the presentation the board moved to accept the budget report.
