In the financial report for the North Platte school board Monday, Finance Director Stuart Simpson said the district has about $4 million less than normal at this time of year.
The majority of the shortfall stems from the sluggish distribution of funds from the Lincoln County Treasurer’s office. The shortfall led to the suspension of County Treasurer Lorie Koertner on May 13.
Simpson hopes the district revenues will be back to expectations before the end of August.
The district has received a total of $12 million in distributions from the treasurer’s office in May and June. The state auditor’s office is helping Interim County Treasurer Shelli Franzen straighten out the operation, Franzen said. Another disbursement for the schools is expected July 15.
The district’s general cash reserves, nearly depleted at one time, now exceed $6 million, according to preliminary financial statements attached to the agenda. However, the district still has to pay about $3.8 million back in a loan it took in May to meet payroll.
Exactly how the county treasurer’s disbursements for the North Platte schools fell so far behind remains a mystery. However, the results of a state audit of the situation are expected soon, which should shed light on the situation.
Simpson said the district is behind normal in receipts from motor vehicle licenses and fees, which are distributed from the county treasurer’s office. But he said that might indicate people are not buying as many new vehicles as they did a year ago.
One thing for sure, the school district is by far the biggest recipient of property tax money out of all the government entities in Lincoln County. North Platte schools receive about half of the property taxes that are paid.