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District reports $12.3 million interest earnings; money-market holdings grow to about $425 million
Summary
Finance committee heard an investment update for April–June 2025 showing roughly $12.3 million in interest earnings, a portfolio mix weighted heavily to money-market funds and local government pools, and staff said earnings flow into next year’s budget.
Mr. Turnbull, one of the meeting presenters, told the Board of Education Finance Committee on Aug. 27 that the district’s investment portfolio for April 1–June 30, 2025, produced approximately $12,300,000 in interest earnings and that the portfolio’s book yield decreased slightly from 4.31% to 4.26% for the period. "Interest earnings were approximately 12,300,000.0," Mr. Turnbull said. He reported the portfolio mix as roughly 47% money-market funds, 24% treasury and agency securities, and 24% in the local government investment pool. He also said money-market balances rose to about $425,000,000 from approximately $257,000,000 the prior quarter after some treasuries matured in June and were moved into money-market funds.
The update was presented by Miss Renette Apodaca and Mr. Turnbull; Miss Apodaca introduced the item. Committee members asked how the district uses the earned interest. Board member Tom Morito asked whether the gains are “squirreled away,” and Mr. Turnbull replied that earnings are allocated into the next fiscal year’s budget and then assigned to particular funds and spending categories according to the budget process. "It goes into the next year's budget," Mr. Turnbull said, adding that how the funds are ultimately used depends on the budget allocations and fund balances.
The presentation also noted the local government investment portfolio changed in size during the quarter; Mr. Turnbull said the local government investment pool moved from about $230,000,000 to $180,000,000 (reported in materials as a reduction to 108 from 180—staff said this reflected reconciled balances). No formal action was taken; the item was presented for committee review and questions.
Committee members did not challenge the figures presented but asked clarifying questions about the distribution of earnings to operational versus capital accounts and requested the usual supporting schedules. The presenters said allocations follow statutory submission dates and internal budgeting rules and that the budget office controls how interest is distributed across funds.
The finance committee moved on after the update with no vote on investment policy changes.
