With co-chair Pamela Henry presiding, the Financial Affairs committee convened in person and via video conferencing for its monthly meeting on Tuesday, May 3. First, the committee reviewed interim financial statements of the district reflecting year-to-year performance from April 30, 2023 vs. 2022. It was noted that cash balances were higher than in prior years and year-over-year spending had increased ~$2.5M. Second, the committee reviewed updated projected financial statements through the fiscal year ending June 30, 2023. The projection continued to show a strong fiscal year for the district with a projected surplus of ~$4.9M. The third topic of discussion was on the proposed final budget. It was noted that budgeted revenues and expenditures increased, leaving a net deficit of $1.02M for the 2023-2024 school year to be funded through a 1.1% tax rate increase. The final topic of discussion was regarding capital needs of the district and available resources and a high-level discussion on future planning. The next Financial Affairs committee meeting is Tuesday, June 6 following the Facilities Committee meeting. Video >>