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Finance report: June apportionment correction and $730,000 safety-net funding boost
Summary
The district's June finance presentation highlighted enrollment shifts, a June apportionment correction reported in the meeting (stated as about $1,416,000), approval of $730,000 in safety-net funding for high-cost students, and a likely transfer from the general fund to capital projects to preserve one-time funds.
Daniel Jordan presented June financial data and noted enrollment variances across schools (small month-to-month changes). He said the district identified an apportionment reporting error that in June produced a corrective payment, described in the meeting as "1,000,000, 416,000," and he flagged the safety-net award of $730,000 the district received for high-cost students.
Jordan explained safety-net funding can be claimed for students where the district spends over $40,000 on an individual student and said the district can claim through July for eligible expenditures. He also said salaries were higher in June due to a cash-out related to a former superintendent and described plans to consider a transfer from the general fund to the capital projects fund to preserve one-time revenues for capital needs.
