Orange County NC Website
Browse       Search
11 <br /> I Slide #20 <br /> Fund Balancc <br /> When the District does rxt spend all o,f its loud <br /> ik"Ut'iliie in tlw L'Lirrent fiscal ar, the ex)ms <br /> carriesvver intvt1wrwxt blur et)Turis whM is <br /> 14'Lm-n a5"fluidbalance" unassigned Fund ice%of Experm:�lu•es <br /> ' The c;uremestimatevffiscal yeu end local "�0G <br /> unassiSfted17wdbal&xoeis911i1AUic411efore a <br /> fwvibalarweisapprorriatedtobalarwekhe �zaox <br /> to.Cal op�eratir et loft <br /> This is prP�11111aoely 573 million above the '44Ville <br /> Distri-cr smmimumtarj�etof 5.5%-Or 543 million <br /> ' To clate.the District has appropriated a total 431 ■VIA <br /> $5.5 i)LAUian 6rL f=ul balarwe iat Its amerWed FY sauc <br /> 2021-22 1-0 Cal-0per"budget <br /> JQIJ ll..i JAi }(!IS J:11. }m� J{L� XII■ <br /> At this time,thisbud eeyyiiesf does r�k 65iliide <br /> any appmpriatica vfCC Fiuulbal Mwe <br /> 2 + It M "- --P 701 'P <br /> UUc[I I <br /> 3 Jonathan Scott said the district used about $300,000 in fund balance in the previous <br /> 4 fiscal year. He said that the district used almost $12 million in ESSER and ARPA funds to <br /> 5 mitigate losses and offer bonuses to staff to reduce turnover. He said that on June 30, 2021, <br /> 6 the unassigned fund balance was $11.3 million. He said the school district appropriated $2.5 <br /> 7 million to balance the FY22 budget. He said the district later appropriated $3 million for COVID- <br /> 8 19 mitigation strategies and retention bonuses for staff. He said his current estimate of fund <br /> 9 balance is about $8.5 million. He said the district expects to use an additional $1-2 million in <br /> 10 fund balance prior to the end of the fiscal year due to unanticipated expenses. <br /> 11 <br /> 12 Slide #21 <br /> i a.hNOhY' � WHAT! i. � <br /> 111 E MEN? r = I where? <br /> ..,QUESTIONS <br /> WHERE, <br /> *WHEN? WHAT? W ,"'�1 <br /> HA r Wh,3t2 <br /> 1 SHILL <br />