Board hears Collins scholarship fund update; presenter recommends reinvesting maturing CD
Get AI-powered insights, summaries, and transcripts
Subscribe
Summary
Trustees heard a Collins scholarship fund update showing year‑end market value around $468,550 and total fund assets near $22.9 million; presenter recommended reinvesting an upcoming $240,000 CD and noted several additional maturities later in the year.
The Corsicana ISD board received an update on the Collins scholarship fund at its January meeting and was advised to consider reinvesting a CD maturing next month, the presenter said.
The presenter reviewed the fund composition and returns: a year‑end market value for the Collins scholarship fund listed at $468,550 in the packet, taxable bond holdings around $9.6 million (about 42% of the account), U.S. equities near $11.9 million (about 52%), and international equities roughly $822,000 (about 3.6%). The presenter reported overall fund value near $22.9 million to start the year and said the fund produced an overall return of about 11.61% for the year and a strong multi‑year return picture.
The presenter noted three CDs had been purchased with accumulated income cash (Bank of America CD, Community West Bank CD, and a TAB Bank CD). One TAB Bank CD is set to mature next month; the presenter recommended reinvesting about $240,000 before expected interest rate declines. The presenter also said several more maturities are expected in early summer, which will inform further reinvestment decisions.
Board members asked clarifying questions about which CDs were reinvested and timing; the presenter confirmed amounts and that one principal CD matured and was reinvested separately from those used for scholarship distributions. The transcript records an exchange about interest‑rate levels and a recommendation to act before yields fall.
The district packet contains detailed schedules and the presenter invited trustees to review those pages for full allocations and maturities.