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Treasurer: Milford posts strong early-year investment gains; performance audit report expected in early November
Summary
The district treasurer told the board Oct. 16 that Milford matched bank reconciliations, earned roughly $300,000 in investment income for September and is positive versus its five-year forecast through the first quarter, although the five-year plan still projects a modest deficit.
The district treasurer reported to the Milford Exempted Village Board of Education on Oct. 16 that the district—s financial position through the first quarter is stronger than projected, though longer-term forecasts remain cautious.
Finance staff said bank reconciliations and payroll records matched state reporting. Investment earnings for September were about $300,000 with roughly $1.2 million year to date,…
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