Canyon ISD board approves March financial report, budget amendment and first 2‑year depository extension

Canyon ISD trustees on May 12 approved the district’s monthly financial report reconciled through March 31, authorized a year‑end budget amendment and approved a two‑year extension of the school district’s bank depository contract with Happy State Bank.

Those actions matter because they govern near‑term cash management, the finishing of facility work and the legal banking relationship that holds the district’s day‑to‑day operating funds.

Leila presented the monthly financials, reporting $73 million in cash and investments across depository and pool accounts and roughly $1.7 million in year‑to‑date interest income with interest rates “right around about 4.5%.” She said the statements are reconciled as of March 31 and that general‑fund revenues were 77% collected through that date; general fund expenditures were displayed by function code. Leila noted food‑service revenue was low at about 30% because of a delay in claims processing and reminded trustees that a $400,000 budget amendment approved in April to complete the Randall High School facilities renovation had not been back‑posted into the March reconciliation yet.

The board approved the monthly financial report as presented (motion by Matt Parker; second Randy Davis) by a 6‑0 vote.

Leila also explained specials and federal grant activity, noting the district had maximized certain Title allocations and was about halfway through cycle‑2 safety grant spending. On tax collections she reported 97.93% collected and 10.75% appearing on the delinquent roll; the district does not perform those collections, she said, and attributed the delinquent balance to taxpayer behavior or outstanding protests.

Trustees approved the listed budget amendment, described by staff as largely year‑end consolidations and transfers to cover unspent campus encumbrances and staff development (motion by Catherine Wiegand; second Laurie Gilliland). The board approved the amendment by a 6‑0 vote.

On the depository contract, Leila reviewed that the district’s four‑year contract with Happy State Bank began in September 2021 and expires Aug. 31, 2025, and that the contract allows up to three two‑year extensions. Administration recommended and the board approved the first two‑year extension (motion by Mandy Palmer; second Matt Parker), 6‑0, extending the depository arrangement under the existing terms.

Leila said she has contacted Hilltop Securities to discuss a potential small defeasance for the district’s August bond interest payment and said she expects to bring related options to the board over the summer. No additional funding approvals were requested in the financial presentation.