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Board reviews October finances, nutrition program balance and SIA funding ties to state forecast
Summary
Staff reported October property tax collections of $667, a basic school support payment of $387,798 and interest earnings of $19,680; the district submitted an ODE plan to spend down an excess nutrition operating balance. Superintendent warned SIA funds track state CAT revenue and could change with the upcoming economic forecast.
Staff member reported the district received property tax collections of $667 in October and a basic school support payment of $387,798, with interest earnings of $19,680. The staff member said the district had to submit a plan to spend down the nutrition program's excess operating balance because districts may not carry more than three months of operating revenue or expense.
"The basic school support payment came in at 387,798," the staff member said, describing the month’s receipts and noting that ODE approved the district’s plan to spend down excess nutrition funds. The superintendent explained that SIA (School Improvement Act) funding is drawn from the state corporate activity tax and therefore rises or falls with the state revenue forecast.
The superintendent said the district would forward the state economic forecast when it is released on the 19th and would share outcomes from the statewide meeting on the 21st. Board members were told that the SIA fund total over the biennium is roughly $769,000 and that those funds currently support instructional coaches, expanded CTE programming and literacy initiatives.
