Finance report shows large July expenses and $700K in state safety-net funds; fund balance remains targeted at ~10%

Dalen Jordan and finance staff presented July budget projections and highlighted several large expenditures and revenue items.

Finance staff reported receipt of approximately $700,000 in state safety-net funds and about $31,000 in federal funds for high-cost special-education situations. Jordan said several large July expenditures drove accounts payable higher, including roughly $780,000 for Chromebooks, $80,000 for copiers and sizable tuition and student-placement bills. He said staff estimate a year-end general fund balance of about $4 million, approximately 10% of total expenditures, and emphasized the need for tight year-end spending control.

Board members asked how the recently approved student placement agreement would affect projections; staff said some placement costs were anticipated and that safety-net reimbursements may offset qualifying high-cost placements. The board approved a related capital transfer earlier in the meeting and staff said they would continue close monitoring of accounts payable runs and accruals through the fiscal-year close.