Caesar Rodney School District Local Funds Performance Audit FY24

… ar to satisfy the local portion of payroll expenditures during the period from July 1st through October 15 th with a surplus equal to one month’s payroll expenditures after adjusting for 75% equalization funding (referred to as Division III F …

… unding) expected to be received. If a deficit is projected, the District must report its plan to meet payroll. If the surplus is less than one month’s local payroll, the District must report its plan to ensure sufficient balance in the followi …

… rves met the minimum set by the requirements to fund payroll expenditures in the first three and a half months with a surplus equal to one month’s payroll of the following fiscal year. 6. Analyzed tax revenue reserves at the beginning and …

… nt to meet the District’s local payroll obligations during the period of July 1, 2024 through October 15, 2024 with a surplus equal to one month’s payroll expenditures as required by 14 Del. C., §1507. The District did not receive any communic …