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Board reviews annual report on post-employment benefit (Fund 73), hears explanation of HRA funding
Summary
Staff presented the annual balance sheet and revenue/expense statement for the district’s post-employment benefit trust (Fund 73) as of June 30, 2024, noting the trust holds and invests funds used to pay health reimbursement account contributions for employees.
District staff presented the annual report on the district’s post-employment benefit trust (referred to as Fund 73 in the meeting), including a balance sheet and revenue/expense statement as of June 30, 2024. The report explains the trust is used to pay contributions to employees’ health reimbursement accounts (HRAs) and allows investments that the district cannot legally make directly.
A staff member identified as Mark said the trust permits certain investments that are not legally available to the school district itself, allowing HRA-related funds to grow at a more favorable rate. The presentation covered the Fund 73 balance sheet and revenue/expense statement for the fiscal year ended June 30, 2024. The transcript shows Mark offered to answer questions; none that altered the report were recorded.
The item was informational and part of routine financial reporting; no board action to change the trust or its use was recorded in the transcript.
