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Board approves August financial-position report; CFO absent as staff works with legislators on tax assessment
Summary
The Christina School District board approved its August financial position report showing an October 15 unrestricted balance sufficient to cover payroll. The board discussed a pending tax-assessment issue and the potential to reissue a tax warrant with split rates to lower residential rates if legislative changes allow.
The Christina School District board approved its required August financial-position report on Aug. 12, with the board president noting the report requires the signatures of the board president, superintendent and CFO.
Mister Kennedy presented the financial-position report on behalf of CFO Bob Vaca and recommended board approval. Citing Delaware Code Title 14, section 1507 (as referenced in the presentation), Kennedy said the report must focus on local payroll obligations through the Oct. 15 payroll cycle and compare year-end current expense balances with the district’s preliminary Division 3 equalization appropriation. The district reported a projected Oct. 15, 2025 unrestricted state and local funds balance of $25,015,583 and one month’s projected local payroll of $6,100,000; Kennedy said no action plan was necessary because the projected balance exceeded one month’s payroll.
Board member YF Lou moved the approval and another member seconded; the motion carried by voice vote with no abstentions.
The board also discussed a tax-assessment and tax-warrant matter. Board members said CFO Bob Vaca and Mister Baca were at Legislative Hall working with legislators on tax-assessment changes. The board president said there was anticipation that the district might reissue a tax warrant using split rates—if state action allows—to lower the residential rate; she asked staff to be prepared to post any required items for an anticipated August 21 action.
Discussion vs. formal action: the financial-position report was formally approved by voice vote. The tax-warrant and tax-assessment matters were discussed as ongoing legislative and staff work; the board did not vote on a reissued tax warrant at the meeting and described an anticipated procedural posting if and when staff receives authority to proceed.
Ending: The district reported a surplus sufficient to meet October payroll obligations for now; legislative developments on tax assessment could prompt future board action and public postings.
