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Finance director reports favorable FY25 revenue trends; year-end and audit timeline outlined
Summary
Finance Director Tom DiStasio told the Board that building permit fees and interest income are stronger than last year, and that special-education funding included a $246,000 second installment; he cautioned the audit completes in the fall and year-end closing remains to be done.
Finance Director Tom DiStasio gave a month-end financial briefing noting several positive revenue indicators as Avon approaches the June 30 fiscal-year close.
DiStasio highlighted building permit fee revenue running approximately $166,000 ahead of the prior year and interest income around $2 million. He said the State’s second installment of special-education access cost funding—about $246,000—brought that program's FY25 total to roughly $878,000, and that the Board of Education has recorded about $2.3 million in tuition/reimbursement receivables expected by June or July. "We're looking to see probably another pretty sizable positive variance," DiStasio said, while cautioning the final variance will depend on closing entries and other line-item adjustments and that the audit is typically completed in late October or November.
Board members asked for clarification about a Pine Grove School capital balance and the treatment of opioid funds; DiStasio explained those capital appropriations can carry forward and that opioid-related funds were appropriated to Fund 3 (Capital and Non-Recurring Expenditures) and will be spent over multiple years.
