The Provo City School District has recently released its Popular Annual Financial Report (PAFR) for the fiscal year ended June 30, 2023, showcasing its continued financial stability and commitment to student success.
The District, which was officially organized in 1898, is fiscally independent and has received an Award for Outstanding Achievement in Popular Annual Financial Reporting for ten consecutive years. The Superintendent and Business Administrator are responsible for implementing policies and overseeing operations.
The Provo City School District offers a variety of learning opportunities, including advanced placement courses and dual-credit options, and educated 13,612 students across various schools in 2023.
The Provo City School District's financial report highlights its commitment to providing a comprehensive array of learning opportunities for students who reside in Provo City. The District continues to strive to develop a culture of meaningful innovation to ensure that all students are future-ready.
The District reported a decrease in combined fund balances of $45.8 million for the year ended June 30, 2023, compared to the previous year. This decrease was attributed to several factors, including a reduction in state revenue and an increase in operating expenses.
Local revenue increased by $34.2 million due to a property tax increase, which helped to offset some of the financial challenges faced by the District. The District also implemented several cost-saving measures, including reducing administrative expenses and optimizing its curriculum.
