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Finance Committee: district finances on track; 33% through fiscal year
Summary
Staff told the Finance Committee the district is 33% through the fiscal year and 23% through the school year, expenditures are on track, local revenue is higher due to 50/50 tax collection, and the beginning-of-year fund balance was updated to the final audited number.
Committee staff reported that the district is 33% through the fiscal year and 23% through the school year, and that expenditures are tracking as expected. The minutes note that local revenue is higher than the prior projection because of the district's 50/50 tax collection practice; the beginning-of-year fund balance was revised to the final audited number.
The report was presented as part of routine financial oversight; the committee received the bond construction update and monthly financial statements as informational items. No committee vote on the financial statements is recorded in the minutes; several bond projects continue to be tracked in the construction update portion of the packet.
