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Board accepts FY26 budget report; staff outlines reimbursements and audit schedule
Summary
Business manager Jake told the board year‑to‑date expenditures are about $3.3M and revenues $6.7M, described audit timing and explained Apex grant cashflow (2.5M upfront, remainder reimbursable); the board voted to accept the budget report.
The South Sanpete School District board voted to accept the district budget report after a presentation by business staff.
"So 80% of the year has gone by. Our fiscal year is July to June. Year to date, we have spent 3,300,000. Revenues, we received 6,700,000," Jake told the board as he walked through fund summaries and the upcoming audit schedule. He said internal auditors will be on site Sept. 16–17 and noted some FY26 items will be adjusted through journal entries to reflect revenues and expenditures that crossed fiscal years.
Jake also explained how the Apex grant will be handled in the capital projects fund: $2.5 million was received as a lump sum and the remaining approximately $10.6 million will be drawn through reimbursement claims submitted quarterly through the Utah state grants portal. He outlined timing for invoices, permits and a projected construction schedule tied to the grant paperwork.
After the presentation a board member moved to accept the budget report; the motion was seconded and the board voted to approve the report as presented.
