Financial Affairs Presentation March 2023

With co-chair Daniel Shultz presiding, the Financial Affairs committee convened in person and via video conferencing for its monthly meeting on Tuesday, March 7.  The primary focus of the meeting was the review of the district's independent financial audit for the year ending June 30, 2022. Highlights of the report included: (1) the auditor's report that had a ‘clean’ opinion of the district's financial statements; (2) the statement of changes in fund balances for governmental funds which showed an $8M increase in fund balances; (3) a surplus in the district's food service fund; and (4) discussion of the audit of federal awards. The committee also reviewed internal financial statements through February 28, 2023, noting revenues were exceeding budgeted expectations and expenditures were in line with the prior year.  Given favorable financial results, the committee discussed the classification of the district's fund balance and assignment to future capital projects. The meeting closed with the discussion of the district's feasibility study and appraiser contract for approval at the next school board legislative meeting. Video.

3_7_23 Cheltenham Finance Presentation.pdf, 1.06 MB; (Last Modified on March 8, 2023)