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Treasurer flags posting errors and tight cash projection as board reviews February financial report
Summary
District treasurer presented the February financial report showing $16.5 million in deposits, $39,000 interest earned and small bank fees; trustees pressed for follow‑up after the treasurer identified posting errors that inflated prior reports and the forecast showed only 40–43 days of cash on hand.
The Stow‑Munroe Falls district treasurer presented the February financial report and five‑year forecast, telling trustees the district currently shows about $16.5 million in deposits, $39,000 in interest earned and $847 in bank fees for the reporting period. The presentation prompted questions from trustees about large monthly variances and a posting error that affected the forecast.
Nut graf: Trustees asked for corrected accounting detail and for a clearer forecast because the report shows projected ending cash balances under the state’s preferred benchmark of roughly 60 days of cash on hand; staff said a posting error earlier had shifted approximately $2 million between lines and that an updated forecast will appear in the next month’s materials.
Key details from the report and discussion
- Bank balances and interest: The treasurer presented total deposits of about $16,500,000 and interest…
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