Treasurer reports tightened cash position; board approves consent agenda, check register and financial report

Treasurer Patrick (last name not provided) briefed the Stow-Munroe Falls Board of Education on the district's December cash position and a temporary spending-control measure at the Jan. 28 meeting.

The treasurer reported the district held about $12 million across accounts at the end of December, with approximately $5 million in the general fund (roughly two payroll cycles). "Given our cash balances... $12,000,000 for a district our size is kinda scary," the treasurer said, explaining the spending-control steps were situational and aimed at preserving liquidity ahead of expected tax-revenue advances in February. He described decisions as case-by-case and said essential purchases and student-facing needs would continue to be funded.

Board members asked whether the spending-control steps affected teams' 300 accounts (fundraising accounts) and whether vendors were paid on time; the treasurer said vendor payments continued but timing sometimes reflected invoice routing. He said the district is working to reduce recurring costs such as cell-phone and hotspot bills.

The board then took up a series of routine fiscal motions. The treasurer's consent agenda (including minutes and other routine items) was approved by roll call. The board approved the December 2024 check register and the December 2024 financial report in separate roll-call votes.

Board members asked for clearer public communications next time the district restricts spending, because several members had received constituent calls. The treasurer agreed to provide a heads-up communication for board members when similar measures are needed.

The board approved the items presented by the treasurer; administrators said they will monitor cash flow and avoid liquidating investments unless necessary.