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Board hears December financials and approves budget amendment to record carryovers and contracted projects
Summary
Mr. Godwin reported December financial statements showing $16.5 million in cash and investments and described a proposed budget amendment to adjust beginning fund balances, recognize carryover federal dollars and add construction contracts and an energy‑savings contract; the board approved the amendment.
The board received December financial statements and a proposed budget amendment presented by Mr. Godwin.
Godwin reported cash and cash-equivalent investments totaling $16,500,000 and an unrealized gain of $718,000, with year-to-date money-market income of $445,000. He said general-fund revenues were running slightly ahead of expectations for the fiscal year's third month and that expenditures, including capital outlay projects, were starting to be billed.
On the proposed budget amendment, Godwin explained the changes would adjust beginning fund balances, recognize state and federal program revenues carried over into the current fiscal year, and add contract amounts for construction projects and an energy savings contract. The board moved to approve the amendment and the motion carried.
Board members asked for clarification on timing and presentation; Godwin noted the amendment primarily reconciles actual contract commitments and carried-over federal dollars into the current fiscal year.
