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District projects $3.64 million ending balance; board asked to appropriate three new grants
Summary
Staff reported a projected ending income balance of $3,638,429, an enrollment adjustment that reduces the fund balance by about $147,079, and proposed three supplemental appropriations for a COPS safety grant, facility assessment assistance and seismic grants.
Director/finance staff (S4) presented the district's financial report and said the projected ending income balance is $3,638,429.
S4 explained the district updated enrollment estimates to correct an overpayment, which reduces the bottom line by about $147,078.94. To spend several newly awarded grants the director asked the board to appropriate three supplemental budgets: a COPS grant for safety and security equipment (video doors, IP speakers), facility assessment capital grants and seismic assessment assistance. S4 said these appropriations are bookkeeping steps to include new funds that were not in the adopted budget.
S4 also reported the district's Title I single audit was filed and cleared with no findings, and staff have begun reviewing state school fund estimates that will be used conservatively in budgeting.
