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Finance director flags PERS spike, revenue omission and 67-student enrollment decline
Summary
Director of Finance Kim Doud told the board a formula omission understated September revenues, auditors will start in November with the audit expected Dec. 7, Marion County property taxes were imposed at $9,442,875, enrollment fell by 67 students, and an upcoming PERS rate change could cost the district an estimated $2,508,386.
The board received a financial update from Director of Finance Kim Doud that covered audit scheduling, revenue-reporting corrections, property tax imposition and pension cost projections. Doud said auditors will begin work in November and "the goal is to have the audit report ready to present at the December 7 board meeting." She also reported a formula omission on the Sept. 7 revenue report that resulted in an understatement of total revenues.
Doud told the board Marion County property taxes have been imposed at $9,442,875 (awaiting Clackamas County data), and she presented a PERS rate outlook: "The next rate change has a significant increase and is estimated to cost the district an additional $2,508,386 in PERS costs." She also reported enrollment declined by 67 students under the district's 10‑day drop rule and currently projects an ending fund balance for 2024–25 about $450,000 higher than the budgeted amount. State School Fund estimates remain pending.
