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District reports strong reserves, unmodified audit and budget planning for a possible $50 million bond
Summary
The district finance officer said Normandy ended the audited year with about $27.3 million in reserves (roughly 40% of funds), an unmodified audit opinion, positive cash flows through November and preliminary planning for a possible $50 million bond and other system upgrades.
The Normandy Schools Collaborative’s finance staff reported a solid year-to-date financial position through Nov. 30, with audited reserves and plans for next fiscal-year budgeting.
Mr. Brooks (finance) told the Joint Executive Board the district had roughly $27.2 million in reserves at the end of November, equivalent to about a 40% fund reserve across all funds; operating fund reserves (general and teachers funds)…
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