Board reviews July financials, certifies commercial paper and affirms five-year forecast practice

The Bowling Green City Schools treasurer presented the district’s July financial report at the Aug. 14 meeting, noting real estate tax receipts and updated income-tax projections and asking the board to recognize the district’s use of commercial paper and short-term bank investments. The treasurer told the board that real estate tax collections showed a modest increase compared with the same period last year and that income-tax projections have been adjusted based on recent data; money from the most recent settlement was expected to be deposited the following day. The report reflects the district’s cash position in a traditionally strong July cash-flow month but flagged that funds must be managed to last until the following winter’s revenue cycle. The board was asked to acknowledge the district’s engagement in commercial paper and bank investment arrangements; the treasurer reported yields near 4.5% on StarOhio and local money-market accounts and said some bond-proceeds investments are maintained locally. On the five-year forecast, the treasurer recommended the board continue to publish a five-year forecast for planning purposes even though state legislative timing proposals would shorten required forecasts. The board approved continuing to present a five-year forecast. The treasurer also said the state’s forecast calendar is shifting (from November/May toward October/February and eventually August), and the board may need to adjust meeting timelines to meet statutory adoption deadlines. Board members voted to adopt the certification and the administrative recommendations without recorded dissent; the meeting record shows motions, seconds and roll-call “yes” votes for the items presented.