Finance update: Seaford board hears tax-receipt and budget timing; final numbers may wait on contract ratification

District finance staff told the board on May 19 that the district is roughly 83.3% of the way through the fiscal year and in a generally positive cash position.

Staff reported monthly tax receipts (examples cited: roughly $86,000 and $55,000 in recent months) and said those inflows, together with senior and disabled-veterans tax collections, should allow the district to meet budgeted receipts. Finance staff also reported the district recently received about $300,000 that had been left over in a COP account and that most but a small remaining balance had been posted to district accounts.

Staff cautioned the board that final budget numbers depend on the outcome of current contract negotiations. The administration said it will provide a preliminary budget next month based on estimates if contracts are not yet ratified, and that changes to assumptions could require a one- to two-cent change in the tax rate, though the staff did not present a firm recommendation on a rate change on May 19.

The board received the report and approved routine operating items; finance staff will return next month with a preliminary budget and updated tax-collection figures.