Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board reviews cash‑flow and fund‑balance; finance director cites timing of property‑tax receipts
Summary
The district’s finance director told the board that a missing property‑tax receipt expected in February caused a temporary drop in the unassigned fund balance to 6.86%, but cash‑flow projections improved due to lower‑than‑expected expenses; the board approved the monthly financial report 7‑0 and asked for clearer recurring reporting.
The Prior Lake‑Savage Area Schools Board of Education accepted the district’s monthly financial report and discussed the unassigned fund balance and cash‑flow timing during the April 14 meeting.
Finance director (presenter) explained that the district had expected a property‑tax remittance in February but did not receive it; that timing difference reduced the reported unassigned fund balance to about 6.86% for February, below board policy 701.2’s 8% threshold for review. The director told the board the levy for the year remains unchanged and that the district has levied approximately $2,020,000,000 (as stated in the packet) and expects to receive the full levy over the fiscal year.
On…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
