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Current Year Financials Update - PowerPoint PPT Presentation


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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.

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Presentation Transcript
current year revenue shortfall
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
lapse and fund balance
Lapse and Fund Balance

*$1.7M in unplanned transfer to CIP + $450K unplanned to CSA

actions underway
Actions Underway
  • Hiring Slowdown
  • Selective Hiring Freeze
  • Health Care Reserves
  • Continued Scrutiny of Operating Accounts
  • Review of Other Reserve Accounts
review of reserve accounts
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

recommendations address projected shortfall
Recommendations Address Projected Shortfall

*Anticipate utilizing this entire balance

**Anticipate utilizing portions of each as needed