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QVSD reports stable cash position, no audit findings; enrollment dipping in elementary grades
Summary
District leadership reported April finances showing about $6.7 million in revenues for the year-to-date apportionment component, net April expenditures of about $96,000, and general fund cash near $9.9 million. State auditors returned no findings but flagged an Open Public Meetings Act timing issue now corrected.
District leadership presented the April financial and enrollment status, telling the board that revenues were "9% of our apportionment for the year, which totals about 6,700,000" and that April expenditures produced a net total around $96,000 for the month. The report noted general-fund cash and investments of roughly $9,900,000 and that the district maintained a 5% minimum fund balance; the ASB fund previously considered for an extension will not require one.
The district also briefed the board on a recent state audit. "We came out with no findings, no management letter," the superintendent reported, while adding that auditors issued an exit item under the Open Public Meetings Act relating to prior executive-session timing; the district says it is now in compliance. Separately, leadership warned of enrollment declines — about 33 FTE lower overall with kindergarten at 48 FTE — and said the district will monitor impacts on next year’s budgeting.
