Board approves October unaudited financial report; CFO notes higher cash balances and grant rollover

The Rochester Board of Education approved the district’s October 2025 unaudited financial report Oct. 30 after a presentation from Chief Financial Officer Edward McDowell.

McDowell told the board the district’s cash position had increased compared with the prior year, citing roughly $336 million in cash at the same point last year and about $378 million in the current report. He said the district received a roughly $80 million state deposit at the end of September that will be moved into a NYCLASS investment account, and that total cash including special aid and capital funds was about $403 million.

The presentation noted increased rollover of unspent grant funds (approximately $1.8 million in revenue carryforwards), higher special aid receipts (about $3.7 million compared with the budget estimate), and a projected increase in charter tuition payments driven by enrollment assumptions that could raise revenue projections by about $12 million over the fiscal year.

McDowell also described the district’s profit‑and‑loss monitoring and said spending remained conservative early in the school year. He answered commissioners’ questions about payroll impacts on cash management and about the timing of transfers into investment accounts.

The board voted to approve the October 2025 unaudited financial report and quarterly change‑order reports; the motion was moved by Vice President Malloy and seconded by Commissioner Patterson and carried by voice vote.

Provenance: CFO presentation during the Oct. 30 business meeting (financial presentation begins at 02:43:25).