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District reports July revenue shortfall amid summer capital spending; temporary transfer anticipated
Summary
District finance staff reported July revenues of $1.3 million against $3.1 million in expenditures, noted capital outlay timing issues and said a temporary interfund transfer will be needed until the November property-tax distribution.
A district finance staff member reported that for July 2026 the district’s general fund received $1,300,000 in revenue — including $201,000 in property-tax collections and just over $1,000,000 in state aid — while monthly expenditures totaled $3,100,000, exceeding revenues as expected because of the timing of annual operating expenses and tax remittances.
The presenter said capital outlay revenue for the month totaled $333,000 while capital disbursements were $3,600,000, reflecting significant summer construction work. The capital outlay fund ended the month with a $418,000 cash balance that is lower than last year, and staff recommended a temporary interfund transfer from the general fund that will be repaid after the capital outlay fund receives its November property-tax distribution.
Special-education revenue for the month was reported as $163,000 with disbursements of $861,000 and a cash balance noted at $6,700,000. The employee-benefit trust reported a modest operating loss for the month, decreasing its cash balance by $301,000 to $3,600,000, though staff said the benefit-trust balance remains higher than the prior two years. The presenter invited board questions; none were raised and the board moved on to other agenda items.
