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Treasurer reports tax receipts rise, CD laddering and appropriation updates
Summary
The district treasurer reported new certificate of deposit placements, increases in general fund and bond revenues after the second half of the tax year, and permanent-appropriation adjustments tied to state draws for a capital project; the board was also told an adult lunch price must rise to at least $5 to match reimbursements.
The Norwalk City School District treasurer told the board on Sept. 10 that the district placed three new certificates of deposit at roughly 4% and 3.8% to replace older accounts that earned near-zero interest, and that a 2028 CD at 5% had been called because market rates are falling. The treasurer also reported that higher property valuations and the second half of the tax year resulted in increased receipts: the general fund rose by about $1.6 million and bond receipts by about $1.1 million.
The trea…
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