Canfield treasurer reports $17.5M general fund balance; board OKs several purchases
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Summary
At the November meeting the treasurer reported a $17,500,000 general fund balance and $1,200,000 in the food-service fund; the board approved purchase items including a $61,000 transport box truck and a $76,009.24 Ford Transit van and recorded $90,000+ in interest earnings.
The district treasurer presented the September financial report and the board approved the report at the regular November meeting.
The treasurer reported the general fund balance at $17,500,000 and the food service fund at $1,200,000, noting settlement and homestead rollback receipts contributed to the liquidity. He said the district switched property, fleet and liability insurance to the Ohio School Plan from Utica. The investment holdings in the Farmers National sweep account earned interest at 4.55% for September and yielded more than $90,000 in interest earnings that month.
The treasurer highlighted several purchase items in the payment register: a transport box truck from Fairway Ford for about $61,000 to assist cafeteria deliveries with a lift gate; a Ford Transit van for $76,009.24 to transport special services students (pending background checks for the driver); and an item identified as the first lease payment on a scoreboard, which was fully funded by a boosters donation. The treasurer also referenced action taken at a special meeting to approve replacement of elementary school fire alarm systems.
The board moved to approve the treasurers reports and the referenced purchases; roll-call votes recorded affirmative responses from members present. No legal citations or budget amendments beyond the reported purchases were presented at the meeting.