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Meeting Date:
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7/15/2024 - 6:00 PM
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Category:
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Business-Related Reports
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Type:
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Info
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Subject:
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Food Service Interim Budget Report
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District Goals:
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Objective #6: Finance & Operations Address ongoing financial challenges by re-examining system processes for efficiencies that can drive resources into our core purpose of student learning.
* Fund Balance and Bond Rating
* Balanced Budget
* Efficient Operations
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Enclosure
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The attached document shows the 2023-2024 Food Service Fund (50) budget and activity through May 31, 2024.
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File Attachment:
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Summary:
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Through the end of May, the food service fund had net revenue of $61,264 with a total of $823,448 of revenue and $762,184 of expenses.
The Board provided free breakfast to all students throughout the 2022-2023 school year to reduce hunger and increase student achievement.
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Budgetary Impact:
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Through May, RASD's food service fund operated with a net revenue surplus. For this year and next, the Board will provide free breakfast to all students, maintain student lunch prices at their current level, and purchase food service equipment to reduce the fund balance. Although the fund is expected to show a deficit after all revenues and expenses are accounted for, this is per the request of the DPI. Despite the anticipated deficit, there will still be a healthy fund balance at the end of the 2023-2024 year, eliminating the need for a transfer from the General Fund (10).
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Recommendation:
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Approvals:
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Recommended By:
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Signed By:
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Jonah Adams - Business Manager
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Signed By:
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Mary Whitrock (SUPT) - Superintendent
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