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Winters ISD approves budget amendment reflecting $414,118 insurance estimate and cafeteria reclassification
Summary
The board approved a budget amendment May 18 to record an insurance-related revenue and expense increase of $414,118 for freeze damage repairs, reclassify cafeteria utilities, and transfer $75,000 into the cafeteria fund.
The Winters ISD Board approved a budget amendment intended to reflect insurance proceeds and to reclassify certain cafeteria utilities. The amendment increases General Operating revenue and expenses by $414,118.00 to account for estimated repair costs from January freeze damage. The minutes also record a reclassification of cafeteria utilities from the General Operating Fund to the Cafeteria Fund and a $75,000 increase in Cafeteria Fund receipts and expenditures to adjust fund balance.
Business Manager Nancy Davis presented the financial reports and explained the proposed amendment during the administrative reports and Action Item B. The board voted on the motion (Motion by Angela Perkins) and the roll-call vote is recorded in the minutes. The amendment also includes transfers and line-item adjustments listed in the published motion language.
