Board hears monthly budget report; staff describe monthly reconciliations and audits

Deputy Superintendent Scott Jones briefed the Utah State Board of Education on the agency's required monthly budget report on Sept. 11, saying staff had submitted the year-end closing packet for state fiscal year 2025 and are performing monthly reconciliations with the state finance system (VantageNow). Jones said the USBE is subject to external audits including the Minimum School Program audit by the Office of the State Auditor and the Single Audit for federal funds above the federal threshold, and that month-to-month reconciliations were instituted after the agency took greater ownership of its finances.

The report matters because it frames whether the agency can meet current obligations and how it will present carry-forward and discretionary spending to the board. Jones told the board that "all known commitments and obligations are able to be met" and that staff would provide training to board members who want an over-the-shoulder walkthrough of the online reporting tools.

Members pressed staff for more detail. Member Earl asked how frequently outside validation occurs and Jones replied that the agency is audited annually on the MSP and subject to a single audit when federal funds exceed the threshold; the agency also performs monthly internal reconciliations to VantageNow. Member Boggess asked where specific line items (board or agency memberships, travel, hotel costs, leave hours) could be found in the online tool; Jones offered to provide a short video showing how to drill down into the reports.

Jones also noted the scale of funds the agency handles: "we're not talking about a million-dollar budget. The MSP program itself is $6,000,000,000," and reiterated that staff will be open to showing any board member or member of the public how to access details. Questions remained about discretionary fund timing; Jones said finance-committee recommendations would be brought to the full board next month for action. Board members asked that training material be made available so the public can locate expenditures and memberships themselves.

The board did not take formal budget actions at the session; the briefing concluded with staff offering to return with additional materials and to place relevant discretionary items on the October agenda for board action.