1 / 7

Current Year Financials Update

Current Year Financials Update. Current Year Revenue Shortfall. Revenues ($ 676K ) Salary Supplement Enrollment (Revised March 31 ADM ) Sales Tax Recommended Action: 10% Operational Holdback Reserves $832K Retained specifically for this circumstance.

cale
Download Presentation

Current Year Financials Update

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Current Year Financials Update

  2. Current Year Revenue Shortfall • Revenues ($676K) • Salary Supplement • Enrollment (Revised March 31 ADM) • Sales Tax Recommended Action: • 10% Operational Holdback Reserves $832K • Retained specifically for this circumstance

  3. Lapse and Fund Balance *$1.7M in unplanned transfer to CIP + $450K unplanned to CSA

  4. Actions Underway • Hiring Slowdown • Selective Hiring Freeze • Health Care Reserves • Continued Scrutiny of Operating Accounts • Review of Other Reserve Accounts

  5. Actions Taken to Address Projected Shortfall

  6. Review of Reserve Accounts Several Self-Sustaining Funds have contingency funds that are available. - E-Rate $147,029 - Building Services Contingency $300,000 - Fuel Contingency $300,000

  7. Recommendations Address Projected Shortfall *Anticipate utilizing this entire balance **Anticipate utilizing portions of each as needed

More Related