Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
MCOE presents 2nd interim budget showing deficit covered by prior-year balances
Summary
Suzanne Steely presented Mendocino County Office of Education's 2nd interim budget, reporting a $29.69 million beginning fund balance, $26.4 million projected revenues and $31.4 million projected expenditures; she said the projected deficit is covered by carryover funds from prior years.
Suzanne Steely, director of internal fiscal for the Mendocino County Office of Education, presented the agency's 2nd interim budget on March 10, reporting an available beginning fund balance of $29,690,000 and a projected ending fund balance of about $24,600,000.
Steely walked trustees through the county office's budget cycle and interim deadlines required by the California Department of Education, and said the 2nd interim includes actual revenues and expenses through Jan. 31. "Our beginning fund balance is $29,690,000," she said, and described projected revenues at about $26,400,000 and total expenditures of $31,400,000. She told the board the net effect is a projected deficit that will be covered by prior-year carryover: "We have a substantial beginning fund balance to cover our deficit."
Steely credited several restored and new funding sources for revenue changes included in the interim, citing additions such as community school partnership funding ($57,500), a donation for homeless students ($50,000), a health care career pathway award ($322,000) tied to a new CNA program, and technical-assistance funding for a California Community School Grant ($120,000). She noted federal special-education passthroughs from SELPA changed the federal revenue line and that some one-time ARP funds were removed.
Board members pressed for clarity on whether the projected deficit would affect ongoing services; Steely said the deficit reflects the use of carryover rather than an immediate revenue shortfall and that reserve and assigned funds (including a $4.7 million economic-uncertainty reserve) are being maintained. "The ending fund balance is comprised of various types of reserves," she said, outlining restricted, committed and unassigned balances.
The presentation concluded with trustees thanking staff for the report and asking follow-up questions about longer-term implications; no formal adoption vote was recorded in the transcript of this segment.
