Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finance topic
No spam. Unsubscribe anytime.
Treasurer reports improved balances but flags multi-year debt-service swing; board reviews ESEA title carryovers and potential federal cuts
Summary
The district treasurer told the board that balances appear improved but that debt-service timing may produce a three-year swing; staff also reviewed ESEA (Title I/II/IV) allocations, carryover and contingency planning for possible federal cuts. The board approved the treasurer's report and discussed holding a Title-funded position open pending
The Camdenton R-III School District treasurer reported to the board on May 12 that overall balances are up but that timing in the debt-service account will likely produce a multi-year swing requiring planning.
In the meeting the treasurer said the top-line balance was up $3,756,916 but explained that funds are distributed across accounts: “our funds 1 and 2 combined are up about $489,000 and our fund 4 is, 3,813,000,” while the debt-service account had declined about $500,000 compared with last year because the current 31-cent tax rate will not generate enough revenue for the district’s upcoming bond payments in some years.
The treasurer said April was “about a wash” and that federal ESEA payments (previously including ESSER disbursements) had been delayed but were expected “by the twentieth of this month” and that payment would be “a little over a million dollars.” The treasurer also summarized that expenditures were about 76% of anticipated and revenues about 94% at the reporting date.
The board approved the treasurer’s report by voice vote.
In a related discussion of federal programs, district staff reviewed the Annual Federal Programs report (Title I, Title II, Title IV) and described carryovers and budgeting approaches. Staff said Title I allocation for the year is a little over $1 million and that the district has carryover balances; Title II and Title IV had smaller carryovers. Staff warned about national talk of future cuts and said the district is planning conservatively. One board member noted a webinar suggesting possible planning for a 25% cut in federal allocations; staff said they are keeping a modest carryover cushion in case cuts materialize.
Board members discussed a Title-funded teacher vacancy the district is not filling immediately and agreed to revisit staffing decisions if federal allocations change.
No detailed roll-call vote was recorded for the approvals noted in the meeting; approval motions were carried on voice votes.
