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April business report: District 186 reports Ed Fund shortfall for April, investment balances boosted by bond proceeds
Summary
The district reported April Ed Fund expenditures exceeded revenues by $7.1 million for the month; cash and investment balances rose after bond sale proceeds, and monthly sales tax receipts for the January collection period were discussed.
Springfield SD 186 business officials presented the district’s April financial report to the Board of Education Monday, reporting that Education Fund expenditures exceeded revenues by $7.1 million for the month while the district’s combined cash and investment balances rose after depositing recent bond sale proceeds.
The April report showed Education Fund revenues of $5.8 million and expenditures of $12.9 million for the month. The operations and maintenance fund reported revenues of roughly $2.24 million and expenditures near $1.5 million. The district’s combined cash balance across all funds was reported as $32.8 million, with total investments of $125.8 million; the combined cash and investments for all funds totaled $158.7 million as of April 30, 2025.
Business staff explained the district’s 1% sales tax receipts reflected the January collection period and are historically lower in January after holiday spending; they noted this January was the first since tracking in which the district’s January collection exceeded $1 million. The district also reported year‑to‑date interest earnings of just over $1.6 million and an interest rate on cash accounts for April of 2.5 percent.
A chart comparing FY25 spending to the FY23–24 average showed the district is on track to spend about 95% of budgeted funds for the fiscal year, business officials said. The business report covered transactions and balances for April 1–30, 2025; board members received the report and asked questions before moving to the consent agenda.
