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Treasurer reports District 26 ended FY25 with roughly $1.1 million operating surplus before final auditor adjustments
Summary
District treasurer presented the June 2025 financial snapshot showing an approximate $1.1 million operating surplus (pre-audit), healthy education fund balance, one‑time capital payouts related to referendum projects and an investment ladder strategy for short-term yields.
Cary District 26’s treasurer reported a preliminary fiscal‑year‑end picture for FY25 at the July 21 Committee of the Whole meeting, estimating a roughly $1.1 million operating surplus before auditors finalize year‑end adjustments.
Why it matters: Year‑end fund balances and capital payouts affect budget-setting for FY26, cash‑flow planning and the district’s ability to fund referendum projects and operating needs.
The treasurer said late invoices for contracted transportation services and year‑end timing adjustments will be reviewed by auditors and may shift some FY25 expenditures into the prior year, which could reduce the surplus. He noted that the operating (education) fund finished strong; the operations and maintenance fund reflected a larger deficit only because of an internal fund transfer included in the amended budget (the treasurer said the actual operations deficit was roughly $70,000). Transportation expense swings reflected timing and the district’s bringing routes in‑house rather than relying on contractors in some cases.
The treasurer described investment strategy: several short‑term investments were chosen in June given attractive short-term rates (mid‑4% to near 4.8% was cited for recently purchased instruments) and several investments were scheduled to mature in July, supporting capital payouts tied to referendum projects. He said the July capital payout was large (about $1.18 million as of the July 11 report) because the district was drawing referendum funds to pay contractors for summer construction; that drawing explains a large cash movement but did not mean a shortfall in operating funds.
Board members asked clarifying questions about investment laddering, capital payout timing and the composition of certain line items; the treasurer explained fund transfers and one‑time payments tied to capital improvement work. No formal budget amendment or vote occurred at the meeting. The treasurer said auditors will finalize FY25 entries and the board will view the final audited numbers when available.
What’s next: Auditors’ year‑end adjustments will be incorporated in the final fiscal report; staff will present the FY26 proposed budget and additional context in August.
