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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 settlement (estimated in the transcript as roughly $119,000) remained unresolved at the time of the report.
The treasurer proposed reducing petty cash on hand to $150, saying cash use is limited but occasionally needed for events such as grandparents day or book fair. The board also moved to establish a new fund (0.024) for employee benefits self‑insurance tied to the district’s participation in the HESI consortium; the treasurer explained the fund would help the district cover claims if the board changes health‑insurance arrangements, and funds previously directed toward severance would be reallocated to the employee benefits fund.
On transportation the treasurer and other district staff emphasized the district needs at least one additional wheelchair‑accessible school bus. The transcript records: “We do need 1 wheelchair bus… We have 3 right now, but we have a lot of students in wheelchairs.” Board discussion noted that several students (the transcript says “3 to 5 students”) attend special schools outside the district and require out‑of‑district transportation. The treasurer said district buses are expensive and provided a district estimate: “Buses are expensive. They're probably about 160,000,” and noted the state has curtailed bus purchase funding, leaving the district to explore lease‑purchase arrangements or use permanent improvement funds for purchases.
The board recorded routine year‑end motions including final permanent appropriations and temporary appropriations to ensure spending authority into the new fiscal year. No final dollar amounts for bus purchases, Medicaid settlement receipts, or severance timing were recorded in the public transcript; the treasurer said some amounts and timing remained “not sure” or “not specified.”
