Cary CCSD 26 treasurer reports roughly $750,000 midyear surplus, cautions on state funding timing
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Summary
Business office reported revenues close to expectations, timing delays in some state payments, and a roughly $750,000 operating surplus at midyear while previewing bond payment timing and FY27 CPI assumptions.
Mister Shepherd, the district's business official, presented the midyear treasurer's report during the Jan. 20 Committee of the Whole, saying total revenues and expenditures are tracking near expectations and that the district is running a modest surplus of about $750,000 at the fiscal midpoint.
Shepherd told board members that state payments are arriving in uneven lumps (he cited the teacher vacancy grant timing), and he expects several transportation claim payments still to arrive before the fiscal year ends. He also previewed the district's first bond payment on bonds issued last November and said that operating assumptions for FY27 currently use a 2.9% CPI figure.
On investments, Shepherd described a laddered approach with maturing investments evaluated for construction needs; some maturing funds have been committed to offset the planned transportation center project and the district's initial solar project. He cautioned that without continued federal support and with uncertainty in revenue timing, the midyear surplus could shrink by year-end.
Board members thanked the business and HR teams for work running the Skyward conversion and for ensuring payroll ran on time during the financial system transition.