Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Brandon Valley board approves bills, hears March financial report showing $30.5 million cash balance
Summary
Board approved bills and claims and accepted the March financial report showing $30,457,529 in cash and several fund balances; staff noted a transfer to special education to cover cash flow needs.
The Brandon Valley School District Board approved bills and claims and accepted the district's March financial report at the meeting.
Business staff highlighted several line items in the bills and claims, including architecture fees for a middle school addition and a 50% down payment from a booster club for a commons video wall. "I call it the $200,000 TV," the presenter said while describing the video board payment.
The financial report showed $30,457,529 in cash at month end. The staff provided a fund breakdown: approximately $7,800,000 in the general fund, $2,700,000 in the capital outlay fund, about $162,000 in the bond redemption fund, $78,000 in the enterprise fund, and $19,600,000 in the projects fund. The presenter said there was a transfer from the general fund to the special education fund to cash-flow that program.
Payroll for March was $2,815,271. The district reported $27,200,000 in investments at South Dakota Fit and First National Bank. On expenditures, the general fund was 73.35% expended through March; staff projected an extrapolated year-end spend near 99% of budget if current trends continue. The food service fund showed a net loss of about $260,000 compared with a projected loss of $299,000.
Board members had no additional questions and approved the bills and the financial report by voice vote (the transcript records "Aye" and "Motion passes" but does not record a roll-call tally).
