QPS plans closer look at year-end fund balances

By Herald-Whig
Posted: Mar. 20, 2017 8:10 pm

QUINCY -- Quincy Public Schools Treasurer Ryan Whicker plans to take a closer look this week at projected year-end balances for the School District.

Reports reviewed at Monday morning's Finance Committee meeting show the district finishing the year with $408,125 in the education fund -- assuming the state makes all its anticipated payments and spending remains on track -- along with deficits in the operations and maintenance, and transportation funds.

By this time last year, QPS had received three transportation payments from the state, and this year, the district has received one.

"That right there is telling us we're probably not going to get all our state payments. We need to adjust the cash-flow summary to reflect that," Whicker said.

Superintendent Roy Webb asked for the closer look after reviewing treasurer reports for the last five years for a cash trend analysis of monthly spending that he said showed the district's budget close to $4 million down compared with last year.

"Each month I've been coming to this meeting saying we're not as good off as we think we are. Instead of getting better, it's getting worse each month. Our deficit is growing each month," Webb said. "We're going to have to significantly slow that spending, but there's only so much we can do."

The concern, Webb said, goes beyond what's known as "categorical" payments, or payments from the state for transportation, special education and other services.

"The board is making decisions based upon thinking they're $400,000 in the black," Webb said. "I'm telling them in the education fund, you're not going to be $400,000 in the black. I can't see how we're going to climb out of that in four months."

If Whicker's review doesn't match Webb's, "we need to figure out what the difference is in the methodology that are being used to determine the true end-of-year projected fund balance," Whicker said. "We'll take a look."

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