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District staff reports strong cash position, notes payroll and revenue items ahead of first payroll
Summary
Finance staff reported cash on hand of about $20.3 million as of Aug. 31, revenue near $58 million and noted August payroll and teacher incentive allotment payments; staff said numbers remain preliminary as auditors close the year.
District finance staff reported that the district’s cash-on-hand stood at $20,309,008.56 at Aug. 31 and summarized revenue, expenses and payroll activity as the board closed out the fiscal year.
The August payroll run was ‘‘a little over’’ $3 million and included a teacher incentive allotment (TIA) payment of just under $16,000, a staff presenter said. The presenter clarified that some TIA funds are paid to teachers who transfer to the district and that a newly passed state teacher retention allotment…
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