Item Coversheet

Mountain View Whisman School District

Agenda Item for Board Meeting of 12/8/2022



Agenda Category:  REVIEW AND ACTION

Agenda Item Title:  2022-2023 First Interim Report (30 minutes)

Estimated Time:  30 minutes

Person Responsible: 

Rebecca Westover, Ed.D., Chief Business Officer




Background: 

Twice during the fiscal year, a school district is required to submit a financial report certifying the district's ability to meet its financial obligations for the current year and two subsequent years. The reports examine the district's attendance, spending patterns, fund balance, reserve for economic uncertainties, and multi-year projections. Staff will present the 2022-2023 First Interim Budget Report, which reflects the district's financial position as of October 31, 2022.

 

The First Interim reports changes to the District's 2022-2023 budget adopted in June 2022.  The projected General Fund Unrestricted ending balance for 2022-2023 is estimated at $31,254,060 with total revenues at $108,816,970 and total expenditures at $107,041,890. The District is planning on a net increase of $1,775,080 with a reserve level of 29.20%.



Fiscal Implication:

General Fund 01 Combined Totals

Beginning Balance: $38,789,754

Total Revenues: $108,816,970

Total Expenditures: $107,041,890

Ending Balance: $40,564,834

Unrestricted Reserve Level: 29.20%



Recommended Action: 

It is recommended that the Board of Trustees approve the 2022-2023 First Interim Budget Report, as presented.

ATTACHMENTS:
DescriptionTypeUpload Date
2022-2023 First Interim Budget Report- Budget Facts at a GlanceBackup Material11/30/2022
2022-2023 First Interim Budget Report- District Certification of Interim ReportBackup Material12/1/2022
2022-2023 First Interim Budget Report Presentation12/2/2022