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Treasurer reports fiscal year ended on plan; district finished with roughly 129 days cash
Summary
Treasurer Matt told the board the district's revenue finished near projections, expenditures were about 4% under budget for the year, and the district ended the fiscal year with about 129 days of cash on hand; the board approved the treasurer's report.
Treasurer Matt presented the district's June financial report on July 15, saying overall revenues were close to projections and expenditures finished about 4% under the adopted budget for the year. He told the board the result produced a year‑end cash balance representing roughly 129 days cash on hand.
Matt said the district's revenue projection in November was used as the basis for the spending plan and that the year closed close to those figures. He said the district had favorable outcomes from lower substitute costs and purchase services, while capital outlay exceeded projections slightly.
The treasurer noted investment returns and cash‑management figures, including an All Star Ohio return of 4.45% and a Premier money market at about 4.055%. He also said the district needs to establish a Title 1‑D fund in house after a state change in program handling.
The board moved to approve the treasurer’s report; the motion carried with affirmative votes from Mrs. Thompson, Dr. Gonyea and Mr. Gere.
