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Finance officer reports preliminary $138,000 operating deficit; tax receipts and CEP help offset pressures
Summary
The district's finance officer reported tax receipts above plan and investment earnings near 4%, noted a $63,000 reconciliation repayment, and presented a preliminary operating deficit of about $138,000; the district qualified for CEP, providing free breakfasts and lunches this year.
The district's finance officer presented a detailed financial report and list of bills for June, which the board accepted by voice vote.
The report noted tax receipts running about $92,000 over plan and an expected upward adjustment that could bring the total closer to $120,000 above budgeted projections once July and August postings are complete. The finance officer said investments in the local government pool were earning roughly 4% and that the district had recorded a $63,000 state reconciliation repayment related to the 2023-24 year. Preliminary year-end figures showed a projected operating deficit of approximately $138,000 (excluding beginning fund balances).
The report also covered program-specific details: the district qualified for the Community Eligibility Provision, which provides free breakfast and lunch to all students and has raised meal service volumes and reimbursements. The finance officer noted the district receives roughly $20,000 a year from a cell tower lease and described capital and transfer activity, including capital outlay recorded for computer replacements.
