Chisago Lakes board hears steady enrollment, audit with no findings and reinvestment of maturing securities
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Summary
Director of Business Services Robin reported district enrollment steady at 3,201 with Wildcat Academy at 35, no audit findings this year, and reinvestment of two matured investments at slightly lower interest rates; board accepted the routine financial updates.
The Chisago Lakes School District board on Monday heard routine financial and enrollment updates from Director of Business Services Robin, who reported district enrollment holding at 3,201 (compared with 3,202 last month) and Wildcat Academy enrollment at 35.
Robin said the district’s budget-to-actual comparisons show no significant anomalies and that general-fund revenues are slightly higher compared with the prior three-year period. Two investments matured this month — previously earning about 4.6% and 4.55% — and were reinvested at roughly 4.15% and 4.22% as market rates eased. Robin noted checking and savings accounts remain at about 4% interest.
Robin also told the board the annual audit is essentially complete and that auditors have reported no findings to date; the full audit will be presented to the board in December. She flagged a procedural issue in the district’s cash-flow posting: recent state deposit payments have arrived by check rather than ACH and therefore posted a day later than expected, though Robin said existing balances have been sufficient to cover payroll.
The board did not take additional action beyond receiving the report.