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Audit follow‑ups: earned income tax timing correction and cafeteria accounting change
Summary
An audit finding led the district to correct how earned income tax receipts are allocated; the finance manager also proposed shifting the food‑service cafeteria report from cash to accrual accounting starting next month to align with general‑fund reporting.
Finance staff reported audit findings and proposed accounting changes on Oct. 20. The auditor identified that two months of earned income tax receipts had been assigned to the prior fiscal year in past practice; the finance manager said the district will correct the treatment beginning with FY 2025–26 so only one month is carried back.
Separately, staff proposed revising the food service cafeteria fund report from a cash basis to an accrual basis to provide a more accurate year‑to‑date comparison with the general fund; the committee supported beginning the accrual‑based cafeteria reporting with the next monthly report. The presenter said the cafeteria account remains healthy and that the district continues to feed students while it awaits any retroactive federal or state reimbursements.
Members asked for the free/reduced lunch participation percentage; staff did not have the number on hand and said they would provide it at the next meeting.
