Audit & Financial Update
As you are aware, we are currently partnering with external auditors this month as they conduct a comprehensive review of our financial operations. Their scope includes a detailed examination of several federal grants, Associated Student Body (ASB) funds, and our overall financial statements.
The auditors have been exceptionally thorough, requiring significant time and effort to compile and submit extensive documentation. While this has resulted in long hours, I'm committed to ensuring a smooth, accurate, and transparent review process.
So far the feedback has been positive. During the audit entrance meeting, the auditors noted that key indicators from several external sources reflect a strong overall financial position for our district. The reductions we implemented, along with the board’s commitment to conservative financial practices, have positioned us well to weather the financial impacts of the levy loss. This early feedback is both encouraging and validating.
I am sure they'll offer some constructive feedback on ways we can do some things better, but that will only improve our situation so I look forward to their findings when it's completed.
Enrollment and Fund Balance
March enrollment reflects our Full-Time Equivalent (FTE) count is 11.43 FTEs above the budgeted allocation. Year-to-date, the average FTE stands at 9.86 above budget.
As anticipated—and as reflected in the General Fund Month-End Balance Report attached below—our fund balance has remained tight this year. That said, I am pleased to share that we expect to make it through March without fully depleting our fund balance. At this time, I do not anticipate the need to request a temporary inter-fund loan from the Capital Projects. This reflects positively on our short-term fiscal stability and the proactive cash flow management practices we have in place.
Reports Attached Below
Attached below are the Actual and Projected Fund Balance Report, the General Fund's Actual and Projected Revenues/Expenditures, the February Budget Status Reports, and the March Enrollment Report.