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District financial update: Homestead additions and renovations fund balances, bond proceeds reported

MSD Southwest Allen County Schools Board of Trustees · November 19, 2025

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Summary

Finance staff reported monthly balances for Homestead project funds, including education and operations fund percentages and bond proceeds totals; staff noted ongoing spend‑down of GEO bond proceeds as the project progresses.

Mrs. Libby presented the September and October 2025 budget report for Homestead High School additions and renovations, summarizing fund balances and bond proceeds.

She told trustees the education fund ended Sept. 30 with a balance equal to 17.69% of the budget (21.2% including rainy‑day funds) and October balances of 17.5% (20.6% including rainy‑day). The operations fund was reported at about 9.87% of budget in September and 9.32% in October. Including bond proceeds, total funds were just over $15,000,000 in September and about $13,250,000 in October. Libby said the district has begun spending down $12,500,000 in GEO proceeds and will continue that spend as the project proceeds.

She closed by offering to answer questions; trustees did not contest the figures during the segment.