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CFO: Impact Aid delayed by continuing resolution but fund balance covers budget needs
Summary
CFO Lorrie Remick told trustees that a continuing resolution is delaying Impact Aid payments, but the district's fund balance is sufficient to meet current budget expectations while the federal funding is pending.
Chief Financial Officer Lorrie Remick reported to the board that an active continuing resolution at the federal level was holding up Impact Aid funding; she said the district's fund balance is sufficient to meet budget expectations while the delay continues. The minutes record the concern and the district's temporary reliance on fund balance to maintain operations.
Remick did not provide the exact Impact Aid dollar amount in the minutes or a timetable for receipt; the minutes state only that enough money existed in the fund balance to accomplish budget expectations. The board did not record any immediate budgetary action tied to this report at the meeting.
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