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Harlandale ISD reviews quarter-end investment and budget reports and recommends Lone Star National Bank for depository services
Summary
At the April 16 work session Harlandale ISD staff reviewed quarter-end investment and budget reports and recommended awarding RFP 250807 for banking depository services to Lone Star National Bank; the recommendation will be considered at the regular board meeting.
District financial staff reviewed investment reports and the general fund budget for the quarter ending March 31, 2025, and recommended a banking depository services award.
Mister Flores, the district’s assistant superintendent for business and finance, presented the investment report and said the general fund realized a decrease of $2,497,711 during the third quarter, with interest earnings of $775,349. He reported decreases in bond-related funds tied to ongoing projects and summarized interest earnings across multiple funds, totaling $1,403,597 for the quarter.
The budget report for the quarter showed total budgeted general fund revenues of $129,476,770 and budgeted expenditures of $140,345,785, producing a budgeted deficit of $10,869,015; through March 31 the district had recognized $94,557,872 in revenues and $92,694,866 in expenditures.
Staff described solicitation RFP 250807 for banking depository services: the district reached 70 registered vendors on its procurement portal, 19 viewed the RFP, and three responses were received by the March 7 deadline (Wells Fargo Bank, Lone Star National Bank, and PlainsCapital Bank). A finance committee reviewed proposals and staff recommended awarding the RFP to Lone Star National Bank for an initial two-year term with renewal options, noting Lone Star National Bank maintains a branch near the district.
Separately, staff asked the board to sign the annual written instrument confirming review of the district’s investment policy and strategies in accordance with board policy CDA; they also presented a recommended list of qualified brokers and authorized investment pools that meet statutory requirements under Texas Government Code 2256.
These items were presented for board review; administration recommended formal board action at the upcoming regular meeting. No formal award vote was taken during the work session.
