Finance update: interest earnings, maturing CD and Liberty Curtain project drawdown; board requests summer-camp update

Keystone Central’s finance staff reported interest earnings and project fund balances on May 27 and flagged a large certificate of deposit maturing in early June.

Joni reported the general fund had earned about $120,000 year to date (through April reporting), and that a $7,000,000 certificate of deposit had generated $717,813 in interest and matures June 5. She said the district is watching short-term rates: “If we get a rate over 4, 4 and a half, 4 and a quarter, we would put it in a CD. But right now, our money market's a little over 4, so we might as well keep it in the money market where it's a little more liquid.” Joni said the district will decide whether to renew the CD after reviewing June results and current rates.

Staff also reported the Liberty Curtain project (Fund 39) began with about $9.95 million and is down to about $2.9 million; retainage and remaining vendor bills are expected to use committed funds as the project proceeds. First National Bank fund 15 had earned about $540,000 for the year, the presenter said.

Board member Elizabeth asked for a work-session update on the Keystone summer camp — enrollment and the program budget — noting enrollment has begun and that a substantive update might be available in a week or so. Staff clarified the summer feeding program and the district-operated summer camp are distinct programs but often overlap operationally.

No decisions were made; staff will monitor rates for the maturing CD, continue to track project spending, and provide a summer-camp update to the board at a future work session.