Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Financial Reporting topic
No spam. Unsubscribe anytime.
Board selects detailed monthly financial report and a quarterly forecasting cadence
Summary
After a lengthy work session led by Treasurer Brandy Crawford, the board chose to begin monthly reporting with a detailed multi‑page report (including UAB and solvency) and agreed to quarterly five‑year UAB projections once forecasting assumptions are finalized.
Brandy Crawford led a work session to present three monthly financial reporting options designed to improve trustees’ oversight: (1) the district’s existing UAB/solvency front‑page with a second in‑depth page per fund; (2) a Forecast5 visual report with charts; and (3) a detailed object/category breakdown that separates salaries, benefits, professional services and other line items. Crawford explained the difference between unspent authorized budget (UAB) — the state’s legal spending authority — and solvency (cash on hand), and emphasized the need to agree on forecasting assumptions before projecting multi‑year UAB trends.
"So it sounds like we all prefer this 1," Crawford said after reviewing examples; trustees asked for charts showing year‑over‑year trends, a clear percent‑of‑year‑completed column, and recommended a monthly cadence for reporting with quarterly five‑year UAB projections after the board approves model assumptions. Staff agreed to begin with the detailed two‑page report (including the second page with certified budget comparisons) and add visual charts on request.
