Arcola Community Unit School District #306 Finance Committee met July 31.
Here are the minutes provided by the committee:
Present: Tom Mulligan, Superintendent; Board Members: Lucas Shonkwiler, Sue Stout, Hannah Myers, Julie Sanchez, Casey Conlin and Jeremy Shonkwiler.
The meeting was called to order at 8:15 pm. The following items were discussed
A. FY 23 Budget in Review – Dr. Mulligan presented a summary to the board about how the district ended the FY 23 school year relative to the budget. The district ended in much better financial shape than was originally budgeted
B. Financial History – Dr. Mulligan presented a historical review of Revenue & Expenditures over the past five years. Dr. Mulligan highlighted the growth in Personal Property Replacement Tax, Evidence Based Funding, Investments and 1% Sales Tax Revenue as reasons for positive financial growth the last few years.
C. FY 24 Revenue and Expenditure Budget – Dr. Mulligan presented and reviewed the detailed budget for revenue and expenditures. The breakdown showed a comparison between revenue and expenditure received in 2022-2023 and those budgeted for 2023-2024.
D. Grant Expenditures – Dr. Mulligan presented all on the district grants. This presentation included a discussion about what expenditures are included in each grant.
The finance committee meeting adjourned at 9:15 pm.
https://core-docs.s3.amazonaws.com/documents/asset/uploaded_file/426/Arcola_CUSD/3406278/Minutes_FINANCE_Committee_-_July_31_2023.pdf
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