Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
District finance report: July cash balances, payroll and investment notes
Summary
Mr. Lundberg presented the July cash report with receipts, expenditures, payroll totals and a trust account balance; board members discussed CD maturities and progress payments on construction projects, noting one project was only ~15% paid to date.
District finance staff presented the July financial report, which the board approved by voice vote.
Mr. Lundberg reported receipts for the month (transcript lists $3,000,636) and expenditures (transcript lists 11,017,000), with a July cash balance reported in the transcript. He noted payroll for the month totaled $2,164,000 with $1,775,940 listed as deductions and benefits, and the trust and agency account balance reported at $170,792. The investment report was described as holding just under $34,000,000 across CDs and money market accounts with laddered maturities.
Board members and Mr. Lundberg discussed upcoming CD maturities and the district's schedule for laddered investments. A board member pressed on construction payment pacing, observing that the middle school project had received roughly 15% of payments to date; Mr. Lundberg and the member said work needs to accelerate to meet expectations.
The Chair asked for a motion to approve the financial reports as presented; the motion carried by voice vote.
The figures in this summary reflect values read into the meeting record by district finance staff and are reported here as stated in the transcript; financial reporting documents held by the district should be consulted for finalized accounting.
