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Board reviews July financials, OPEB holdings and referendum debt plan
Summary
Finance staff presented a quiet July with limited activity, a partial $75,000 receipt from MacBook sales, PMA and bank investments earning roughly 4%, and discussion about holding referendum debt proceeds and two separate OPEB accounts that the board may consider consolidating in future months.
The Beloit School District board received its monthly financial report for July on Sept. 2 and discussed investment returns, OPEB balances and a referendum debt reserve held to avoid arbitrage concerns.
Missus Elwood, the district’s finance presenter, told trustees that July is typically a low-activity month and that revenue timing…
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