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Finance board hears investment report, fiscal indicators and a transfer resolution; work requested on finance orientation
Summary
At the annual Board of Finance session on Jan. 13 the district reported $691,733.93 in interest income for the previous 12 months and reviewed fiscal indicators including a funded ADM of 2,185 and an operating‑referendum share of 17.2% of total revenue.
Trustees convened the annual Board of Finance meeting after the organizational meeting and heard routine fiscal reports from district finance staff, including an investment officer summary and the state-prescribed fiscal indicators report.
Investment officer report Michelle Cronk, district finance officer, reported the district earned $691,733.93 in interest on cash and investments for the 12-month period ending Nov. 30, 2024. She said the corporation currently holds five certificates of deposit and two treasury bills that will mature over the next two years with rates ranging from about 4.11% to 5.4% and that staff will continue to reinvest at the highest available rates as instruments mature.
Transfer resolution presented Cronk also…
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