Finance report: district reports $10.1 million invested, general fund collections up on one-time payments
Summary
District finance presenter reviewed FY24/FY25 collections and investments, reported a total of about $10.1 million invested across funds and outlined purchase orders and encumbrances for operations and building maintenance.
District finance staff presented the year-end and June financials, reporting higher general fund collections for the fiscal year and a total district investment balance of roughly $10,099,000.
Presenter Mister Bashir said the district's gift fund balance stood at about $372,724.83 at the end of FY24 and, after donations and scholarships, the current gift fund balance is approximately $322,073.89. He said the district recorded general fund collections of $526,777.62 in June and reported total collections for the year of $18,677,855, an increase the presenter attributed in part to one-time school-security funds and state teacher pay adjustments.
The building fund had $1,169 collected in June and $4,681,128 for the year, the presenter said, which represented a decrease in actual collections compared with the prior year. The district reported invested funds yielding between about 4.24% and 4.95%, with investments of $6,296,000 in the general fund and $3,269,000 in the building fund; smaller amounts were listed for child nutrition, sinking and gift funds, bringing the district's total reported investments to about $10,099,000.
On expenditures, the presenter said the district had spent or encumbered less in the general fund compared with FY24 and paid more from the building fund, and cited capital purchases (for example, purchase rather than lease of buses) as contributors to year-to-year differences in expenditures.
Purchase orders and encumbrances discussed included recurring operational vendors (fuel, firewall monitoring, payroll) and specific building or maintenance items: lawn-care contracts, electrical work on an air-conditioning unit at Lincoln, herbicide/weed control, tree removal tied to damage on the softball field (PO amount cited as $3,500 in the record), HVAC repair on an agricultural building (amount recorded in the transcript was unclear), and flooring work to renovate stairs (PO number and amount referenced but unclear in the transcript). The presenter noted that cafeteria payroll entries reflected a small number of district-hired cafeteria employees who remain on the district payroll rather than the food-service management company.
Board members asked a few clarifying questions about encumbrances and payroll as hirings continue; the presenter noted payroll totals could rise before school starts as open positions are filled.
