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District fiscal update: general fund revenue down 3.26%; timber receipts lag forecasts
Summary
Fiscal staff reported the district expects to remain within budget this year but general fund revenue is down 3.26% versus budget. Timber-related receipts are well below projections — examples cited include roughly $73,000 in state timber revenue versus $250,000 budgeted — and the district plans a TANS sale with expected ~4% interest and funding in early June.
Fiscal staff told the board the district anticipates being within its total budget for the fiscal year but reported overall general-fund revenue is about 3.26% below budget. Staff attributed most of the shortfall to timber-related revenues: examples cited during the report included state timber revenue of about $73,000 versus a $250,000 budget, and county distributions that have been lower than expected.
The fiscal team said the district will sell Tax and Anticipation Notes (TANS) with a pricing call expected after the sale and an anticipated interest rate near 4%; funding was expected at the beginning of June. A trustee asked whether the shortfall figure was 3.26% rather than $3 million; staff clarified it is 3.26 percent.
Provenance: topicintro SEG 780, topfinish SEG 809.
