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District finance chief outlines revenues, spending and upcoming audit
Summary
Business manager Jake presented the district's fiscal snapshot through Aug. 31, reported YTD spending and revenues and outlined the upcoming audit schedule and state reporting deadlines.
At the Sept. 10 board meeting, Jake summarized the district’s early fiscal-year financials and the audit timeline. "16% of the year has gone by," he told trustees and reported year-to-date expenditures of "6,000,000" and revenues of "8.6" (figures given verbally in the packet). He explained that salaries and benefits represent roughly 70–80% of operating costs and warned trustees that teacher contracts paid on a Sept.–Aug. cycle will drive a large uptick in reported expenses as the new year proceeds.
Jake also confirmed the district’s audit schedule: "The auditors from Gilbert and Stewart, CPA, they will be on-site of the district next Tuesday and Wednesday, the 16th and 17th." He said the district must file a state report by Oct. 1 and will submit the full audit to the state auditor by Nov. 30; the auditors will return to present findings to the board once the report is complete.
