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Treasurer reports improved cash flow; district awaiting second half of levy
Summary
Treasurer Mark Davis told the board the district27s investment account rose from about $4.0 million to $4.7 million and that the second half of the levy payment should arrive by the end of the week; expenditures currently trail revenues and the district budgeted a temporary deficit to fund a multi‑use building.
At the May meeting Treasurer Mark Davis gave a financial update showing stronger cash‑position indicators heading into summer while noting the district still expects the second half of its levy funds.
Davis said the district moved from roughly $4.0 million in its investment account to about $4.7 million during the reporting period and that approximately $1.5 million in state aid remains to be collected. He reported revenue collection at about 70% and expenditures at roughly 83% of budgeted amounts and reminded the board that the approved budget included a planned deficit tied to the multi‑use building investment.
Davis told trustees he had spoken to county officials about the levy and expected the second half to be distributed by the end of the week, which would increase available funds. He also reviewed the cash‑flow statement and said total cash on hand and investment balances were in a stable position for summer obligations.
Why it matters: timing of levy receipts and year‑end journal entries affect the district27s ability to meet summer payroll and payables; the board was briefed on the fundamentals and told to expect near‑term audit and journal entries as staff finalize year‑end accounting.
The treasurer invited trustees to request backup documentation for payables and journal entries; no corrective actions were directed at the meeting beyond standard fiscal oversight.
