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Strasburg School District posts $950,360 increase in net position; building fund shows $158,765 deficit
Summary
The district's MD&A reports a $950,360 increase in net position for fiscal 2024 and a General Fund balance of $6,072,753, while the Building Fund ended with a $(158,765) deficit after capital spending.
Strasburg School District 31J reported a $950,360 increase in net position for the fiscal year ended June 30, 2024, bringing total net position to $9,932,970, according to the district's Management's Discussion and Analysis.
The MD&A shows the General Fund balance grew to $6,072,753 while the Building Fund recorded capital outlays that produced a net decrease of $1,441,851 and resulted in an ending Building Fund balance of $(158,765). The MD&A also lists total governmental fund assets of $10,918,216 and total governmental expenses of $19,174,843.
District management highlighted other financing sources that materially affected the year's results: insurance proceeds of $2,244,673 were recorded during the year and appear on the statement of revenues, expenditures and changes in fund balances. "The District remains in a strong financial position, with growing revenues and responsible fiscal management," the MD&A states.
Why it matters: the improvements in net position and general fund reserves provide operating flexibility, but the Building Fund deficit and capital spending will be relevant to board decisions on capital planning and potential future transfers or financing.
Board members will consider these figures in upcoming budget and capital discussions, including scheduled work sessions and the April regular meeting.
