Del Valle ISD finance update: healthy cash position and pending budget amendment tied to HB2 coding changes

Del Valle ISD’s finance director told the board the district’s September financials show a stable position and that staff will present a budget amendment later this month to realign coding affected by House Bill 2.

Dina Edgar summarized the month ending Sept. 30: a portfolio weighted average yield of 4.28 percent, nearly $1 million earned in interest in September and roughly $3 million year‑to‑date; about 98 percent of the portfolio remains in instruments maturing within one year. Tax collections for September were $162,000 with $83,000 refunded, for a net $79,000. Year‑to‑date expenditures are about 25 percent of budget (including roughly 3.6 percent encumbered funds), which the presenter said is on target for three months into the fiscal year.

Edgar explained a forthcoming general‑fund budget amendment will realign expenditures by function to reflect updated funding formula interpretations under House Bill 2 and correct coding (for example moving technology payroll from central administration function 41 to technology function 53). The amendment is informational at the Nov. 4 meeting and scheduled for action at the Nov. 18 board meeting. Trustees asked whether prior concerns were cash problems rather than budget shortfalls; Edgar said last year the district used a tax anticipation note because reimbursements and some investments had created temporary cash pressure but current indicators are favorable.

No vote was taken on the amendment at the meeting; the item will return for action on Nov. 18.