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Woodland Park board hears $2M cash‑shortfall analysis and approves participation in state interest‑free loan
Summary
Finance staff reported a year‑over‑year decline in cash of about $2.0 million driven by a COP payment and late benefit payments; the board approved participation in the State Treasurer's short‑term interest‑free loan program to bridge cash‑flow timing issues.
District finance staff told the Woodland Park School District RE‑2 board the district’s cash‑on‑hand declined roughly $2.0 million compared with the prior year, partially because of a near‑$600,000 COP payment and benefits that were paid late after issues with an outsourced payroll vendor.
"If we look at November year‑over‑year, our cash on hand has declined by 2,016,000,"…
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