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Board reviews district investments, monthly revenue swings and bus purchase impact
Summary
Board members reviewed investment balances across funds, month‑to‑month revenue variances tied to tax‑collection timing and large, one‑time expenditures for bus purchases and building repairs.
The board reviewed a district finance report that showed investments across several funds and discussed recent volatility in tax collections.
Administration reported investments of roughly $6,996,000 in the general fund and $2,969,000 in the building fund, yielding about $9,365,000 across operations and building funds. Child nutrition had about $190,000 invested; the ceding fund had roughly $11,000 and the gift fund about $260,000. Total reported investments across all funds were approximately $10,426,000.
Superintendent reported that general‑fund year‑to‑date collections through February were cited as approximately $15,563,865, and that February collections totaled about $711,000 — about $580,002 less than February 2024. The administration cautioned the board that comparisons year‑to‑year are affected by timing differences in when property taxes are paid, with some taxpayers paying earlier in December in the current year.
The board discussed expenditure management, noting year‑to‑date general‑fund outlays were lower than the same point last year by several hundred thousand dollars and that the building fund showed increased spending largely related to bus purchases rather than recurring operational costs. The superintendent said the district took money from investments to purchase buses outright instead of leasing; the one‑time cash outlay was described in the meeting as roughly $350,000.
Board members also reviewed several purchase orders covering library materials, E‑Rate consulting, HVAC and kitchen repairs in child nutrition. Administration said the child nutrition program had spent carryover funds on $21,000 in kitchen repairs and cautioned that state reviewers monitor program balances.
No new tax rate or bond actions were proposed; the finance discussion was informational and led to the board’s consent‑agenda approval of the finance items.
