Watertown School Board Reviews September Financials, Notes Use of Reserves for Athletic Complex
- Steve Jurrens
- Oct 14
- 2 min read
Northeast Radio SD News - Watertown, SD - The Watertown School Board received the September financial report, presented by Business Manager Heidi Clausen, detailing the current status of the district's various funds.
The report highlighted ongoing construction expenditures at the athletic complex and improved balances in the Special Education Fund and at Lake Area Technical College (LATC).
For September, the General Fund reported $1.36 million in revenue sourced from taxes, state aid, and federal programs. The month concluded with an ending cash balance of $5.5 million, which is slightly lower than the previous year's level. An adjustment to state aid is anticipated in the following month after the official student enrollment counts have been confirmed.
The Capital Outlay fund recorded $45,000 in property tax revenue. Expenditures totaled $1.1 million, which reflects the continued work on the athletic complex. The fund's cash balance stands at $1.1 million, a decrease from the prior year due to the use of reserves to finance the construction.
The Special Education Fund showed a stronger overall financial position. It brought in $169,000 in revenue for the month and closed with a $2.9 million cash balance, which is an improvement compared to the same period last year.
In K-12 Nutrition, expenditures exceeded revenue for the month as inventory was replenished. The fund ended with a cash balance of $125,000, slightly lower than the previous year's total.
The report also covered the finances of Lake Area Technical College (LATC), noting strong cash flow. Tuition and fees totaled just over $1 million, and the quarterly state aid reached $2.8 million. Expenditures, primarily for operational costs and equipment purchases, amounted to $2.3 million. The ending cash balance of $9.9 million is higher than last year's. The bookstore account remains strong, with good sales resulting in an ending balance of $1.1 million.
Lastly, the financial report noted that the Employee Benefit Trust plan saw a positive shift following a September premium increase, with premiums now exceeding claims and administrative costs. This adjustment is expected to help stabilize the plan, though the fund's cash balance remains below the level of prior years.
