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Budget report reveals $8M deficit as state audits and cash flow issues loom

January 27, 2025 | Camas School District, School Districts, Washington


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Budget report reveals $8M deficit as state audits and cash flow issues loom
Camas School District officials are closely monitoring their financial health as they navigate ongoing audits and budget challenges. During the School Board meeting on January 27, 2025, the district's budget status was reviewed, highlighting significant reliance on fund balances due to cash flow issues.

The district is currently undergoing two state audits: an annual audit by the Washington State Auditor's Office and a comprehensive program review of special service grants. These audits are expected to conclude within the next few weeks, with a report anticipated for the February meeting.

In November, the district leaned heavily on its fund balance, utilizing approximately $4.7 million to manage cash flow, primarily due to receiving only 5% of state apportionment that month. Additionally, the district reported a $1.4 million expenditure for new buses ordered the previous year.

Looking ahead, the December budget report indicated a slight fluctuation in the ending fund balance projection, with concerns about meeting payroll and accounts payable obligations. The district's budget deficit has increased to nearly $8 million, attributed in part to declining student enrollment, which remains over 50 students below forecasted numbers.

As the district prepares for potential short-term borrowing to cover future expenses, officials emphasized the importance of maintaining a close watch on cash flow and budgetary decisions. The discussions from this meeting underscore the ongoing financial challenges facing the Camas School District and the proactive measures being taken to address them.

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Scribe from Workplace AI
Scribe from Workplace AI