It’s a new fiscal year, and with that in view, the Stanley-Boyd Area School Board reviewed end of year fund balances at its regular meeting July 24.
Starting out with Fund 10 (the General …
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It’s a new fiscal year, and with that in view, the Stanley-Boyd Area School Board reviewed end of year fund balances at its regular meeting July 24.
Starting out with Fund 10 (the General Fund), the fiscal year ending June 30 showed an ending balance of $4,622,439.74.
That figure, somewhat padded by non-renewable ESSER III money, is projected rather than official until the audit is done, as with the other fund balances. Other factors in the end of year fund 10 balance were that pool filters had not yet come in, along with dental insurance.
Moving on to Fund 21 for the Special Revenue Trust, end of year balance for June 30 showed $446,858.26 in full. Fund 21 includes legacy trees and donations to Oriole Park, as well as school sponsored group finances.
Shifting into Fund 46 for Long-Term Capital Improvements, the end of year fund balance showed a total ending balance of $6,470,835.88.
Fund 46, restricted in use like all funds save Fund 10, is being used to pay for current improvements including security doors (32 in all), the middle school remodel ($561,395), as well as the upper Elementary remodel, still to be done.
Moving from Long Term Capital Improvement to Food Service, Fund 50 closed out the present fiscal year with a balance of $219,492.54. While remaining steady for this year, some equipment will need to be replaced, the district having also hired an additional part-time position, both affecting the balance moving forward.
As to Fund 73 for employee retirement, the balance of $1,115,959.20 continues to pay all district expenses for retirees hired before summer 2005 and is expected to continue with enough to meet all promised retirement benefits.
Closing out the fund balance review with Fund 80, the Community Service fund shows an end balance of $21,5043.29, after expenditures exceeded revenues by $23,262.40 for last year.
Later transferring all but $70,000 of the overage from Fund 10 to Fund 46 for Capital Improvement, that’s the review of the current end of fiscal year fund balance picture at Stanley-Boyd.
