District business office reports $32.1M cash balance; staff describes insurance carrier changes

Brandon Valley School District 49-2 business officials presented the district’s August financials and described recent insurance changes at the board meeting.

Mr. Lundberg reported an August beginning cash position just over $36 million, receipts of $3.16 million and expenditures of just over $7 million, leaving an ending cash balance of $32,120,000. He said $12,367,000 was in the general fund, $715,000 in the capital fund, just under $1,200,000 in special education, $332,000 in bond redemption, $28,000 in the enterprise fund and approximately $19.5 million in the projects fund. The district’s investment report total was stated as $28,244,000 and payroll for August was $2,169,411.

Business staff also reviewed bills and claims that included a $5,000 parking-lot agreement with Brandon Lutheran Church and contractor payment details. The transcript records staff saying they switched property carriers to Gallagher Risk Management Services and that doing so resulted in a stated savings of about $40,000. The transcript also records staff saying some prior carriers "are running away from the market" and names EMC as a carrier that declined to match the new terms; the meeting did not include supporting documents to verify market claims or the exact savings beyond the verbal statements.

Staff reported increasing cyber insurance coverage to a $15,000 policy with a new carrier, citing growing exposure to cyber incidents in public schools. The board approved the bills and claims and accepted the financial report by voice vote.

The transcript contains several numeric and name inconsistencies (for example, a verbal reference to "$3,300,000,000 worth of property" that appears unusually large). Those items are reported as stated but flagged for verification from district records.