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LUSD ends year with good fund balance

LUSD ends year with good fund balance

By Nancy Gutierrez

At the Sept. 14 meeting of the Lindsay Unified School District board, members approved the prior year unaudited actual financial report prepared by Business Manager Les Henson.

Henson took the approved report to the county office of education the following day. The district ended 2003-2004 with an unrestricted balance of $4,329,599.96. Henson said the projected end balance for 2004-2005 is $3,673,043.96 due to decreased revenue and contribution from unrestricted funds to restricted programs. Designated reserves including the addition of two full-time teacher positions and one part-time teaching position at the high school add to the decreased ending balance for the 2004-2005 school year.

Revenues from the cafeteria fund were higher than expected. Henson said there was an excess of revenues over the expenditures of $231,568.65. Henson and Superintendent Janet Kliegl thanked director of food services Margie Mininger for successfully managing the food services department. There was enough cash in the food services account to pay back the the final $100,000 owed the general fund from a previous loan. Kliegl said the extra funds would also be used to purchase materials for the new central kitchen that will soon be built.

Other areas did not do as well as the cafeteria special revenue fund. The adult education fund spent $18,699.77 more than what was brought in leaving an ending balance for 2003-2004 and beginning balance for 2004-2005 of $18,386.80.

The Child development fund also ended the year with a $7,241.51 deficit leaving an ending fund balance of $148,354.96.

This year the district collected $289,322.14 from new development, an 82 percent increase from the initial budget amount of $80,000.

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