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Keystone Central finance committee reviews July interest earnings and short-term CD decision
Summary
District finance staff reported July interest earnings across several funds, explained why the district reduced its CD holding to $3,000,000 and plans to revisit a larger placement in September depending on state basic education subsidy timing.
Keystone Central School District finance staff reported July and year-to-date interest earnings, described why the district reduced a certificate-of-deposit (CD) holding, and said a further decision on large cash placements will depend on timing of state basic education subsidy payments.
The district’s presenter said the district maintains an average general fund balance of about $2,000,000. For fiscal year 2025–26, interest credited to the general fund was $2,513; the district has set $3,000,000 in a CD that pays quarterly interest at 4.25 percent rather than leaving the full…
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