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District treasurer reports roughly $16 million in cash, textbook spending already high
Summary
Director of Business Services Robin Dawson presented a new cash-balance treasurer report showing about $16 million across checking and savings and nearly $1 million in investments; she flagged that textbook spending already consumed about half of the July budgeted supplies line.
Robin Dawson, the district—s director of business services, presented a new treasurer-style report and said the document shows current cash on hand rather than fund balances. "So between the 2 of them there, we have about $16,000,000," Dawson said, summarizing combined checking and savings positions.
Dawson said the district holds nearly $1,000,000 in investments with original yields listed at roughly 4.5% and that the primary checking account is earning about 4.15% while a ‘‘max account’’ (a savings-like vehicle) is at about 4.24%. She cautioned the report is new to the board and had a formatting error that will be fixed in the next packet.
Board members questioned who decides investment placements and Dawson replied the district is limited by law in allowable investments and that offers to invest come with rate and term notices; she said staff manage reinvestment as terms mature. Dawson also noted that under the general fund, the supplies and materials line is already at about 50% spent for July because textbook purchases for the coming year have been made.
On other small balances, she noted the construction fund showed a remaining balance of $71.44. Board members responded with light remarks and no substantive follow-up.
The presentation was informational; there was no separate vote on the report itself. The board moved on to the rest of the agenda after questions.
