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AAPS March budget monitor: $51M cash on hand; fund balance will dip with May payrolls
Summary
Finance staff reported a healthy general fund cash position ($51M on March 31) and year‑to‑date revenues slightly above projections, but noted a projected dip below the board's reserve target when three payrolls land in May.
Ann Arbor Public Schools finance staff told trustees April 23 that the district’s March monthly monitoring shows a healthy cash position but forecasted a seasonal dip in reserve levels later this spring.
Presenter Franck Kaur reported that the general fund cash balance on March 31 was about $51 million and year‑to‑date revenues are approximately $225.3 million, slightly above expectations. She noted the general fund’s year‑to‑date addition to fund balance would have been roughly $34.6 million if March were the fiscal year end; the district’s ending fund balance at that snapshot would have been about $42 million.
Kaur also highlighted that two federal food‑service grants expired, reducing supplemental revenue for that fund and contributing to a weaker food‑service cash position.
Financial staff emphasized that fund balance is expected to dip in May because of the district’s three payrolls that month; their projection shows reserves falling near the board policy threshold. Staff said the district reports monthly to the Michigan Department of Treasury and will continue to monitor cash flow and return to the board with updates.
Trustees asked for clear visuals of fund‑balance thresholds; staff agreed to add an emphasized marker for the board’s 5–7% reserve target on future trend charts and to continue monthly reporting through audit closeout.
No board action was taken; the monitoring report was informational.
