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Board reviews May treasurer's report and approves estimated reserve transfers; capital reserve partly spent in 2023-24
Summary
The board received the May treasurer's report, heard that short-term borrowing was used to support capital cash flow, and approved estimated reserve transfers required before the 2024-25 audit; the district used $10,000,000 from its capital reserve for a 2023 project.
The Webster Central School District Board of Education reviewed the May treasurer's report and approved estimated reserve transfers during its July 8 meeting.
Mr. Freeman (district official) presented the May report, saying the district is "continuing to do very well on our investment strategy" and that it is working with six banks to maximize rates. He told the board that the district signed short-term borrowing paperwork this week to increase cash flow for the capital project because…
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