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Treasurer reports steady revenues, $5.2M surplus after seven months; capital improvements show temporary deficit
Summary
Staff presented the revenue and expenditures report showing $11,155,694 in revenues and $5,958,912 in expenditures for the period, leaving a reported surplus of $5,196,782 after seven months; the capital improvements fund shows a deficit of approximately $301,515 to be addressed.
Unidentified Speaker 5, Unidentified Speaker: The treasurer presented the district’s revenue and expenditures report and recommended the report be accepted for audit. For the reporting period staff reported $11,155,694 in revenues and $5,958,912 in expenditures, leaving a surplus of $5,196,782 after seven months. The capital improvements fund by itself showed revenues of $8,487 and expenditures of $310,003, yielding a deficit of about $301,515 that staff said would be "fluffed up" by Dec. 18 when additional transactions post.
Investments were reviewed: total investments and cash on hand were discussed in the packet (staff cited investments totaling about $15.83 million and described three CDs with rates that would yield near 4%). The report included disbursements (including payroll and vendor payments) totaling about $493,746 for the month of November. The treasurer moved the report for audit; a procedural second was recorded in the transcript.
What happens next: the treasurer’s report was presented for audit and will proceed through the district’s audit/approval process.
