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Finance report: market value gains and $3 million revenue upside as property tax trends lag
Summary
District finance staff reported a quarterly investment volatility update and third‑quarter budget review showing improvement in market adjustments, a projected $3 million revenue increase driven by interest income, lower property tax receipts and unfilled staffing keeping salary spending under budget.
District finance staff told the board the quarterly investment volatility and third‑quarter budget reports show an improved market‑value position and a modest positive variance in the operating budget.
In the investment update, staff said market value is approaching carrying value; if the fiscal year closed at the reporting date, the market value adjustment would be a negative $2.4 million but that compares with a larger negative adjustment last year and results in a net improvement. The…
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