Brandon Valley School Board approves year-end bills, hears May financial report

Brandon Valley School District 49-2 board members approved routine bills and claims and accepted the district’s May financial report during their regular meeting.

Mr. Lundberg presented the bills and claims listing included in the board packet and highlighted several large items, including a listed payment to Pesca Construction (payment 9 noted as $1,381,000) and year-end food-service refunds totalling about $95,937. He also reviewed payroll and voucher totals and end-of-year pay for unused sick and personal days. The board moved, seconded and approved the bills and claims as presented.

In his financial presentation, Mr. Lundberg said the district had approximately $28.9 million in total cash at the end of May and received about $13.3 million in receipts during the month — roughly $12.8 million of which he identified as a property-tax draw. He described an annual operating transfer of roughly $1.4 million from the capital outlay fund to the general fund and several interfund cash-flow transfers involving special education and the bond redemption fund. Reported fund balances included about $13.1 million in the general fund, $5.5 million in capital outlay, $1.7 million in special education, $1.3 million in bond redemption and $16.9 million in the project fund.

Mr. Lundberg also said payroll and benefits for May were just under $2.9 million and that the general fund was tracking to finish the year at about 98.7% of budgeted expenditures — “just under 99% of budget,” he said. He noted the district sold and closed certificates of participation on June 4 for $7,135,000 and realized approximately $455,000 in premium on those issues.

The board approved the financial report after no substantive questions were raised at the meeting. The district’s bill list, cash report and the May financial statements are part of the official board packet.