Board hears investment and financial reports and discusses House Bill 2 implications for raises, penny tax and budget gap

South San Antonio Independent School District finance staff presented the quarterly investment report and May 2025 financials at the June 16 board meeting and answered board questions about budget strategy, House Bill 2 implementation and the district’s options to close projected deficits.

Tony Kingman, the district’s chief financial officer, said the district began the quarter with an investment balance of roughly $46.3 million and ended about $41.6 million, typical seasonality tied to property-tax receipts and year-end expenditures. Kingman said the portfolio is concentrated in safe instruments: 45% cash repurchase agreements, 32% federal agency bonds and 21% U.S. Treasury securities; the average yield declined from 4.51% to 4.39% during the quarter.

On the General Fund, year-to-date revenue through May was reported at $62.5 million with $56 million in year-to-date expenditures; Kingman said the district remains on pace for projected year-end operations but that auditors may report a one-time…