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Finance committee: Year‑end reports show cash on hand and a $3 million projected surplus as audit approaches
Summary
The North Penn School District finance committee heard the treasurer report showing $117,005.52 in cash on hand and a year‑end general fund projection of roughly $3,000,000; staff cautioned audit adjustments could reduce that to near break‑even and auditors are expected this fall.
The finance committee reviewed the treasurer's year‑end report and heard that the district had $117,005.52 in cash on hand as of June 30. Treasurer Miss Hauser delivered the report, saying, “So we ended the year with $117,005.52 in cash on hand.” Chair called for a vote to carry the report to the action meeting and the motion passed.
Miss Hauser told the committee the general fund was showing "a surplus of about $3,000,000" on a budget that had a $9,000,000 deficit, but she cautioned that closing entries required in period 13 and accrual adjustments could reduce the surplus to close to break‑even. She said auditors are expected to begin work in October, though timing may shift depending on staffing transitions. The committee thanked staff for the work and advanced the report to the action docket.
