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Perryton ISD reports $23 million invested for construction; attendance shortfall reduces revenue
Summary
CFO Miss Perez told the board the district has about $23 million invested for construction projects and is earning CD interest; the district's current average daily attendance funding rate is about $16.83 versus a budgeted $17.50, producing roughly a $400,000 shortfall versus full budgeted revenue.
Perryton ISD Chief Financial Officer Miss Perez told the board the district is holding about $23 million in investments earmarked for construction projects and is realizing certificate-of-deposit interest on those funds.
Perez said the district is “about 75% of our CD interest” on page 57 of the packet and that roughly $23 million remains invested for construction. She said a future bond sale is likely to be discussed later in the year, noting September or October as possible timing to consider the next bond issuance.
On attendance funding, Perez reported the district’s current weighted average was approximately $16.83 per ADA (average daily attendance), while the budgeted figure is $17.50. She said that gap represents roughly $400,000 less revenue than a fully budgeted year.
Board members asked about property-casualty payments and discussion of self-insuring; Perez said there was no room in the budget this year for changes and that the district would continue discussions.
No formal budget actions or bond-authorizing votes were recorded in the portion of the transcript provided.
