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Treasurer reports year‑end finances; board discusses bus needs, employee benefits fund and petty cash
Summary
District treasurer briefed the board on May financials including two new investments, a pending Medicaid settlement, severance payouts, and proposed changes to petty cash and an employee benefits self‑insurance fund; the board also discussed the need for a wheelchair‑accessible bus and options for bus purchases.
The district treasurer reviewed May financial reports and told the Norwalk City School Board that the district was “pretty much on track” to finish the fiscal year on June 30 while noting several outstanding items, including a pending Medicaid settlement and possible severance payouts that could affect year‑end figures.
“We did have 2 new investments,” the treasurer said, describing one as a government‑agency instrument tied to the Federal Home Loan system that offers a stepped interest rate depending on the term. The treasurer said revenue from a catastrophic cost and a Medicaid…
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