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Finance committee: SAISD reports near‑complete revenue collection, $51.5M unrestricted balance and bond prefunding savings
Summary
District finance staff reported August financials showing revenues at about 99.4% and expenditures at about 95.4% for the budget cycle; unrestricted funds were reported near $51.5 million and staff said bond prefunding preserved about $80 million in value the state will hold harmless.
San Angelo ISD finance staff reviewed the district’s August financial statements and investment report with the board Tuesday, saying revenues for the budget cycle have reached roughly 99.4% and expenditures sit at about 95.4% as the district closes out the year.
During the finance and audit committee workshop, staff reported restricted fund balance at approximately $2,574,000 and unrestricted balance of about $51,537,000. The district reported invested funds of roughly $466–$467 million and monthly interest income for August of about $1,397,000; reported yields were in the 4.28–4.43% range.
Finance staff discussed a district decision to pre‑finance bond proceeds, saying the move saved “about $80,000,000” in long‑term costs and that the state will hold the district harmless for that amount as part of the financing arrangement. Staff said that money is currently invested and that the state reimbursement will be handled in later accounting steps.
Board members asked for follow‑up on individual checks in the August register and the cyber incident payment; district staff invited trustees to contact the business office with specific questions and said they had not identified any unusual checks in their initial review. The board approved the bills, accounts and financial statements for August by a 7–0 vote earlier in the meeting.
The finance workshop was presented as an informational item; no additional board actions were taken beyond routine approvals at the meeting.
