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Business manager reports near‑balanced budget; revenues and expenditures both about $6.0 million
Summary
Business manager (Mr. Stellmacher) told the Silver Lake J1 board that year‑to‑date revenues are about $6,000,004.36 while expenditures are roughly $6,000,004.88, leaving a small shortfall; the presentation covered state aid, per‑pupil aid, grant claims, special‑education transfers and referendum funds.
The district’s business manager gave a detailed budget update showing year‑to‑date revenues and expenditures that are essentially balanced but slightly negative as of July 20.
The presenter said total revenues as recorded stand at about $6,000,004.36 and expenditures at about $6,000,004.88, yielding a roughly $50,000 deficit as of July 20. He explained major revenue lines — including per‑pupil aid (reported as $742 per full‑time equivalent) and state sources such as the common school fund and transportation — and flagged that several revenue and expense items remain unaudited or not yet fully recorded. Special grants and energy‑related dividends produced surpluses on some lines; open‑enrollment out payments and a high‑cost special‑education placement were among items that could shift the transfer amounts between funds.
Board members asked clarifying questions about revenue limits, levy interactions and timing of reimbursements. The business manager and district administrator said they expect the year‑end position to be close to budget after anticipated grant claims and reimbursements are recorded and after one high‑cost special‑education placement and related transfers are accounted for. They also reviewed referendum bond receipts and capital project spending timelines tied to the recent $7,000,000 referendum and noted that some interest earned on referendum receipts is being evaluated with the district’s auditor for appropriate accounting treatment.
The presentation closed with board requests to track year‑to‑date totals and to return to the board with additional detail at a future meeting.
