Summit Schools pleased food service fund breaks even
Summit Daily News
Summit School District’s second financial quarter report shows a school year goal was achieved – the food service fund is breaking even as of December 31.
“It was one of our goals this year to have that fund breaking even,” said Karen Strakbein, who is currently serving as interim superintendent as well as fulfilling some of her old duties as assistant superintendent of business services. Often, the food service arena requires subsidies from elsewhere in the budget.
She also pointed out that the district’s health benefits fund is holding steady at about $1.6 million in assets, liabilities and fund equity.
The general fund shows expenditures are more than revenues at this point in the year, but “that’s not unusual,” Strakbein said. The district is currently borrowing from the state’s interest-free loan program to carry through until tax revenue is collected and dispersed – at which time, the loans will be paid back and the remainder will carry the district through the end of the year.
The special building maintenance and technology fund is in its final year, Strakbein said. Approximately $1 million remaining in the fund is to be rolled over in the capital reserve fund for use in future projects before the account is closed.
Strakbein also noted that student enrollment is steady, which has an impact on the district in terms of how much money comes to the district according to its head count.
“Everything is operating as expected at this point in time,” Strakbein said, adding that with the new mill levy approved by voters in November, a supplemental budget needs to be created and approved by board members in June.
The quarterly financial reports for Summit School District are available at http://www.summit.k12.co.us under Departments/Business Services.
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