CFO reports $108.8 million reconciled balance; board approves monthly financial report
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Summary
CFO Mark Woods told the board the district's Oct. 31 reconciled balance was $108,818,599.07 with $23,740,990.65 in investments; the board approved the monthly financial reports by voice vote.
Mark Woods, the district—hief financial officer, presented the monthly financial report at the Nov. 13 Madison County Board of Education meeting. Woods reported a reconciled bank balance of $108,818,599.07 as of Oct. 31 and $23,740,990.65 in investments, attributing high cash on hand to recent bond receipts and timing differences in federal reimbursements tied to construction projects.
Woods said the district had matured bonds and had taken steps to manage cash flow through investments while construction spending ramps up. He noted some federal receipts (Title I, food service, JROTC) were paused earlier and are now returning, which will smooth revenue timing through the fiscal year. He described the district pproach of investing large up-front receipts and managing rates through the year.
The board moved and seconded to approve the monthly financial reports; the chair called for aye and the motion carried by voice vote. No roll-call tally was given in the transcript.