Treasurer—riefs board on December finances; trustees ask to monitor athletic and food-service funds
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Summary
The treasurer/CFO presented the December investment schedule and monthly spending report, noting seasonal cash flow lows, construction fund activity and near-zero balances in some activity funds. Trustees asked for ongoing monitoring of athletic and food-service accounts and for average spring athletics costs.
The Cuyahoga Falls Board of Education on Wednesday approved the treasurer/CFO's consent items, including the December investment schedule and monthly spending report, while trustees asked finance staff to monitor activity accounts that showed tight balances.
Treasurer Christy Stokoi told the board December is typically a low cash-flow month and noted a one-time insurance payment reduced available cash. "In theory, that's about a million dollars higher," she said, adding that construction-related funds performed well despite a seasonal dip in general operating cash.
Trustees flagged the athletic activity fund, which appeared in the red for December but may have timing differences due to receipts posted in batches, and asked the treasurer to provide typical spring-season spending averages and confirm whether any transfers from the general fund would be likely.
Food service and revenue: The treasurer said food-service receipts increased with a late November/December remittance but cautioned that salary and benefit cost increases and higher food prices are pressuring the fund. Board members requested more detail from food-service leadership and finance staff about the impact of any proposed meal-price changes and the fund's cash position.
Other consent items: The consent agenda included federal grant appropriation adjustments, contract updates (including a three-year agreement with Cintas for services) and a set of donations from community partners. Trustees approved the superintendent's personnel and contract items as presented.
Vote: The board approved the treasurer's consent agenda and the December investment schedule by roll call vote; later votes on the superintendent's consent agenda and other consent items carried unanimously.