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Child Nutrition Fund projected to break even; preliminary property values lift Debt Service outlook
Summary
CFO Mike White reported the Child Nutrition Fund is projected to break even for the current and upcoming fiscal years; the Debt Service Fund showed strong preliminary property values with estimated 10% growth over the prior year.
During the budget workshop, Mike White updated trustees on two restricted funds. He said the Child Nutrition Fund is projected to break even for both the current and upcoming fiscal year, reducing immediate concerns about that program’s operating deficit.
Mr. White also reported strong preliminary property values for the Debt Service Fund and an estimated 10% increase in property value over the prior year, which improves debt-service projections heading into the next fiscal year.
