When is the first interim due to the board?

When is the first interim due to the board?

• A. October 31
• B. December 15
• C. March 15
• D. January 31

Answer: (B)

Interim financial reporting cadence is about providing timely, board-ready updates on the district’s budget status. The first interim is a mid-year review for July 1 through December 31, presenting revised revenue and expenditure projections and any changes from the adopted budget. It’s due to the board by December 15 so the board can review and approve budget adjustments in a timely manner and so the district meets state reporting timelines before the second interim and year-end close. That’s why December 15 is the correct due date—the other options don’t align with the standard first interim schedule. The March 15 date is reserved for the second interim, not the first, and October 31 or January 31 fall outside the typical first interim timing window.

Interim financial reporting cadence is about providing timely, board-ready updates on the district’s budget status. The first interim is a mid-year review for July 1 through December 31, presenting revised revenue and expenditure projections and any changes from the adopted budget. It’s due to the board by December 15 so the board can review and approve budget adjustments in a timely manner and so the district meets state reporting timelines before the second interim and year-end close.

That’s why December 15 is the correct due date—the other options don’t align with the standard first interim schedule. The March 15 date is reserved for the second interim, not the first, and October 31 or January 31 fall outside the typical first interim timing window.