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Cary 26 treasurer reports January numbers, flags one‑time proceeds and timing of amended budget
Summary
Treasurer Shepherd said January results include one‑time proceeds from the Maplewood property sale and a final bond payment; staff will present a budget amendment for board approval later in spring.
District Treasurer Mister Shepherd presented the January treasurer's report on Feb. 18, noting the monthly statements reflect one‑time proceeds related to the Maplewood property sale and a final bond payment that distorted year‑to‑date projections.
Shepherd said the sale proceeds and recent property purchase created large but temporary cash inflows that, if left in capital accounts, would give a misleading surplus (he removed the capital fund from a cash‑flow chart to avoid that distortion). "When I originally created the treasurer's report for this month, it said we had exceeded our yearly revenue by about 20%. We know that is not the case," Shepherd said.
Shepherd reported the district earned "a little under $55,000" in interest from the capital improvement bond proceeds and that the district's laddered certificates of deposit earned competitive rates (board members cited a 4.3% CD rate). He also warned that state payment timing has slowed, which could affect cash flow. The treasurer said staff are preparing an amended budget for display in March or April with approval expected in May or June.
Board members confirmed that the treasurer's reports are available in BoardDocs on the district website and praised the investment strategy; no board action was taken during the presentation.
