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Financial reports show tight budgets in several district funds; trustees request added oversight
Summary
October financials show General Fund budgeted revenue of $19.57 million against budgeted expenditures of $20.59 million (a $1.02 million budgeted shortfall), as well as notable negative balances in some restricted funds. Trustees asked staff to tighten review procedures for bank statements and to follow up on special-education records.
District financial reports for October 2024 presented to the board show an operating picture with constrained resources in several funds.
The General Fund is budgeted for $19,568,307 in revenue and $20,588,829 in expenditures (a budgeted shortfall of $1,020,522). The Technology Fund (Fund 245) shows expenditures listed that exceed current cash in bank and reflect large year-to-date activity in network and hardware ($635,534.15 less than the budget line shown in the report). The ESSER III Fund (Fund 250) also shows budgetary adjustments and a budget-balance carry forward listed as ($300,000.00). Student activity and plant facility funds were itemized with individual school cash balances and project-related entries.
Trustees discussed the audit exception and internal controls and recommended that either Shelby or the principal review and sign bank statements to reduce risk of late fees and improve timely payments. The board also scheduled a near-term review of special-education finances and records.
