Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Fiscal Year Results topic
No spam. Unsubscribe anytime.
Big Spring SD reports preliminary $446,360 surplus for 2425; adjusted position $2.8M after reserve transfer
Summary
Finance presenter Donna Lentz told the board the district closed fiscal 2425 with about $66.68 million in revenues, $66.2 million in expenses and a $446,360 surplus; after a $1.8 million transfer to capital reserve the adjusted year-end position is roughly $2.8 million.
Donna Lentz, presenting to the finance committee, said the district ‘‘ended with about $66,680,000 in total revenues’’ for fiscal 2425 and recorded roughly $66,200,000 in expenses, producing a preliminary surplus of $446,360.
Lentz added that money moved from a prior-year general-fund balance into the capital reserve in 2425 increased the positive position: ‘‘that transfer was about 1,800,000, then our year end result for 2425 is about 2,800,000 to the good.’’ She cautioned that these are preliminary numbers while the audit is being finalized and said the auditors’ final statements were expected within about a week.
Board members pressed for clarifications about how recurring versus one-time gains should be treated. Lentz reiterated the district’s practice that surpluses are recommended for one-time uses rather than ongoing commitments, because the revenue mix and one-time reimbursements may not recur annually.
The finance committee will receive the finalized audit when the auditors are available to present (Lentz said she anticipated scheduling an auditor presentation in late winter).
