San Angelo ISD finance briefing: $50M unassigned, payroll near $9M monthly; public suggests revenue ideas

During the Feb. 16 finance and audit workshop, Dr. Mills reviewed the district’s current fiscal position and answered trustees’ questions about the check register, payroll and investments.

Key figures provided by Dr. Mills: approximately $50,000,000 in unassigned funds; about $5,000,000 in restricted funds (roughly $4,000,000 of which has been committed to capital purchases); the district had collected about 46% of its revenue (roughly $63,000,000) and recorded expenditures of about $57,000,000 (about 42% of budget) after five months. Monthly payroll was described at roughly $9,000,000, and January investment income totaled about $1,600,000 (around $1,300,000 of that tied to bond project accounts). Dr. Mills also noted interest rates have declined from mid-4s to the high 3s.

In public comment, Jamal Schumpert suggested the district avoid discounted advertising arrangements on the Jumbotron and instead sell full-price slots to promote the district and generate revenue. He also proposed a fifth-day virtual schooling option to save on facilities and maintenance costs, citing a district facilities/maintenance baseline of roughly $17,000,000 and estimating a 10% reduction could save around $1,700,000 annually; he characterized the measure as appropriate for some students but not those needing special education supports.

Dr. Mills reviewed the PO report and identified one unusual check to Jet Electric Company (~$382,000) for stadium lights and related site work, which was discussed and explained as a capital project item.

Provenance: Finance presentation and questions were part of the finance & audit committee workshop; public comments on revenue ideas occurred during the public-comment segment earlier in the meeting.