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Board reviews February bills, delays $253,047.50 HVAC payment after tax-credit timing concerns
Summary
Kimball Public Schools trustees discussed monthly bills and agreed to delay mailing a $253,047.50 HVAC renovation payment until early March because the building fund is not receiving the usual county tax-credit payment this month; the board approved the bills and the treasurer warned of a temporary lower cash balance due to a delayed state property-tax credit.
The Kimball Public Schools board reviewed February bills and financial reports and approved the month’s payments after staff described timing concerns tied to state and county credit schedules.
Treasurer Trevor (speaker 1) told the board the annual HVAC payment for renovations at both school facilities is $253,047.50 and is due March 15, creating a tight processing window before the next board meeting. Staff recommended holding the payment until closer to March 1 because the district’s building fund was receiving only a partial county tax-credit distribution this month (about $16,000) and staff wanted to preserve working cash. “That’s the $253,047.50 that you see coming out of the special building fund,” Trevor said.
On the treasury report, Trevor also said a state property-tax credit that had been expected in January was delayed, which made the district’s overall balance lower than at the same time last year; he said reserves were adequate and staff expected the credits to arrive. The report described state aid components (approximately $600,000 cited for one component) and an overall state offset of roughly $3,000,000 for local property tax base support as background for the board’s revenue picture.
After discussion, the board moved and approved the bills; the chair recorded the motion carried 6-0. Staff will follow up with detailed check-register line items for questions about bookstore/dual-credit charges and other line-item clarifications.
