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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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General Fund 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 General Fund (10) budget and activity through June 30, 2024, compared to the prior two years.
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File Attachment:
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Summary:
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The budget update outlines the status of the General Fund's budgeted revenues and expenditures from July 2023 through June 2024, compared to previous years. Several significant year-end activities have yet to occur, including an interfund transfer to Fund 27 for special education expenses (estimated at $2,216,868) and an anticipated interfund transfer to Fund 46 for future capital projects (estimated at $260,000). After these year-end transfers, RASD expects to add $300,000 to the General Fund balance. Additionally, the District will reconcile the self-funded medical plan liability against recorded premium expenses, which may result in adjustments to medical premium expenses.
As of June, revenues have met 100% of the projected amounts for the school year, consistent with last year. Expenses have reached 89% of the projected year-end budget amounts, compared to 90% at the same point last year. The interfund transfer expenses from the General Fund will align actual financial activity closely with the budgeted amounts.
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Budgetary Impact:
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The summary compares the actual budget activity to both prior years and the current budget plan.
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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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