District reports $34 million in combined assets, $2.2 million better than budgeted for fiscal year

The district treasurer reported the district closed the prior fiscal year with a cash balance of $16,434,431.24 and, when combined with certificates of deposit (CDs), student activity funds and other assets, finished with $34,075,763.63. The treasurer said two CDs produced $55,675.26 in interest during the month reported and that the district’s 1% sales tax receipts reached $179,544.21 for the month, bringing year‑to‑date receipts on the 1% tax to roughly $1.4 million.

Superintendent and business staff told the board the district’s consolidated year‑end position was roughly $2.2 million better than the original budget projections. The superintendent said higher interest income (the district invested heavily in CDs where yields ran in the roughly 4.3% range) and conservative revenue budgeting produced the favorable variance.

The treasurer also explained a notable transportation‑fund change: an ESSER audit determined a $362,000 bus purchase from three years earlier had been charged to an ESSER fund inappropriately, requiring the district to move that amount into the transportation fund this year to correct the audit finding. "One of the big things there...When the auditor went through and did the ESSER audit this past summer, they determined those were purchased inappropriately from the wrong fund," staff said.

Board members approved the treasurer’s report and the financial reports by roll call vote. The board also discussed CD strategies and interest income and asked staff follow‑up questions about specific funds and line items.