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District reports lunch fund shortfall of about $24,000 year-to-date, staff says
Summary
District staff told the board the lunch fund (Fund 112) is running a year-to-date deficit of roughly $23,997 from July to January, citing rising food costs and reimbursement rates that do not cover paid meal costs.
Staff reported the district's lunch fund (Fund 112) expenditures exceeded revenues by approximately $23,997 for the year-to-date period (July through January). Staff said earlier in the year the fund had been down about $16,000 for the first quarter and that the rate of loss has decreased but remains a concern.
The staff explanation cited higher food costs and the structure of USDA/state reimbursements that return roughly $4+ per free meal but only about $0.60 for paid lunches, leaving the district to cover the difference from other funds. "Our expenditures exceeded our revenues by roughly $16,000" earlier in the year, staff said, and later reported the cumulative year-to-date shortfall of $23,997.
Staff said the district intends to monitor the fund with quarterly reports and, if necessary, transfer general-fund or building-reserve monies to balance the lunch fund by the end of the fiscal year.
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