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Pine Tree ISD financials show improved outlook but Child Nutrition fund still projected to lose $261K
Summary
Finance report showed a projected year-end deficit of $1.2 million (improved from $3.9 million projection) and a Child Nutrition fund shortfall of $261,000; the district received a SHARS settlement of $214,593.36.
Salena Jackson presented the district’s monthly financial report on May 12. Key figures included tax roll current-year deletions of $20,970.57 and prior-year deletions of $448.82, purchases over $50,000 including a Sysco Foods purchase of $177,000, and donations totaling $18,085.18 in cash and $1,142.80 in-kind. Attendance trends were reported to be close to an average daily attendance (ADA) of 4,150.
Jackson reported the district is now on track to end the year with a $1.2 million deficit, an improvement from a previously projected $3.9 million deficit. The district received a SHARS settlement of $214,593.36 for FFY 2022. The Child Nutrition fund is projected to lose $261,000 compared with the $1 million that had been budgeted; the Texas Department of Agriculture’s guidance changing allowable fund balance from three to six months was noted as context for fund management. Trustees voted 4-0 to approve the financial report.
