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Finance committee: Oak Grove SD 68 reports just over $6M in cash reserves and $931,240 year-over-year net improvement
Summary
Committee member Jason Udstuen reviewed May financials, reporting just over $6 million in cash reserves, a $931,240 year-over-year improvement in net position, $1,841,743 in May revenues (driven by the first tax distribution), and $1,770,964 in total expenditures.
Jason Udstuen, a Finance Committee member for Oak Grove School District 68, reviewed the district's May financial statements, reporting that the district ended the month with cash reserves of just over $6 million and an improved net position of $931,240 compared with the prior year.
Udstuen said May revenues totaled $1,841,743, driven by the district's first tax distribution payment in May, while total expenditures for the month were $1,770,964. He also noted routine oversight of student activity and IMPREST accounts and reviewed monthly credit-card activity, including $45,672.16 in American Express charges and $2,444.82 on the Costco Visa.
