Treasurer reports strong cash position; district readies for budget season
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Summary
The district treasurer reported an October beginning cash balance near $65.9 million, receipts around $76 million and an ending cash balance near $127 million, noting most funds are in high-yield accounts (3.5%'3.8%) and about $8 million remains liquid for operating needs.
The Fairport Central School District treasurer presented the monthly investment and cash update, reporting robust cash balances and an investment strategy intended to maximize yield while preserving liquidity for operations.
For the month of October the treasurer reported a beginning cash balance of about $65,900,000, receipts of roughly $76,000,000 and disbursements of about $14,600,000, leaving an ending cash balance near $127,000,000. The largest receipt source for October was tax collection, and district staff said the next major state aid payment typically arrives in March (sometimes in increments from December to March).
Staff noted nearly all funds except roughly $8,000,000 are held in high-yield and short-term investments currently yielding about 3.5% to 3.8%; the $8,000,000 liquidity amount covers approximately one month of payroll, accounts payable and insurance costs. The treasurer thanked staff members (including Chris Eckhart) for managing the accounts and explained the district uses sweep accounts, T-bills, and other instruments to preserve yield.
The report framed the cash position ahead of the district's budget calendar and upcoming "under the hood" budget sessions in late January and early February.