Cape Henlopen School District Local Funds Performance Audit FY24

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

… 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 expenditures. 6. Analyzed tax revenue reserves at the beginning and end of the fiscal …

… 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 …