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Preliminary year-end report: South Umpqua projects $4.54 million ending fund balance
Summary
Business Manager Shy Chapman reported General Fund revenues projected at $18.7 million—$375,538 below budget—and expenditures at $19.3 million, about $2.57 million under budget; the estimated ending fund balance for FY2024–25 is $4,540,219.
Business Manager Shy Chapman presented a preliminary year-end financial snapshot to the board on July 14. She said General Fund revenues are projected at $18.7 million, approximately $375,538 below the adopted budget, primarily because of shortfalls in Federal Forest Fees and the State School Fund. Expenditures are projected at $19.3 million, about $2.57 million under budget largely due to underspending in payroll and supplies, producing an estimated ending fund balance of $4,540,219 for FY 2024–25.
Chapman noted stronger-than-expected local tax collections and the prior year's ending fund balance helped offset some revenue declines. She also reminded the board that these figures are preliminary pending final year-end adjustments and audit reconciliation. The board did not take any new budget action at the meeting but will monitor final audit results.
Why it matters: The ending fund balance and variances from budget affect the district's reserve levels and capacity for new expenditure in the coming year.
