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Treasurer says district fiscally sound but cautions House Bill 920 and PI impacts; explains financing options
Summary
The district treasurer reported a strong near-term cash position and investments but warned that House Bill 920 and county changes will reduce future revenue. The treasurer outlined a proposed financing mix (COPS and TANs), described PI levy impacts and recommended further studies before expanding project scope.
The Riverside district treasurer reported the district is in a solid fiscal position at mid‑year, with reconciled funds and several investment accounts producing returns. The treasurer told the board that general fund balances and unencumbered cash provide short-term stability, but cautioned that legislative and county-level changes will constrain future revenue growth.
Key fiscal points: the treasurer stated the district’s general fund cash and balances (figures were summarized during the report) and explained that House Bill 920 (referenced in the meeting as 'house bill 9 20') limits revenue growth tied to property-tax formulas and has created long-term…
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