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Board hears May financials, construction progress and insurance concerns
Summary
Treasurer reported May revenues and interest earnings, ongoing construction spending, and steep insurance renewal increases; the board approved the financial report and agreed to review insurance and temporary appropriations before month-end.
The Amanda‑Clearcreek Local Board approved the May financial report and discussed construction progress and insurance renewals at its June meeting.
The Treasurer presented May figures: general‑fund revenues totaled $1,046,450 (an increase of $43,878 from May 2023), interest earnings were $163,335 (including $81,441.36 in COP investment interest), and expenditures for the month were $1,965,268. The Treasurer reported a current general‑fund balance of $11,306,171 with encumbrances of $1,940,695, leaving available cash of $9,365,476.
"Our general fund balance is $11,306,171 with encumbrances of $1,940,695, which brings our available cash balance to $9,365,476," the Treasurer said. The Treasurer also noted a missed/out‑of‑period payment (typo) of $918,853 affecting month‑to‑month comparisons and that some state rollback payments were delayed into June.
On construction, district administration reported work at the K–2 building: pad complete, sewer lines being run, and foundation work slated to begin July 1. The athletic storage building pad is laid and materials are expected to arrive in August; field‑house rough earthwork is finished and a large laydown area has been graded.
Insurance renewals drew particular attention. The Treasurer said Liberty Mutual's renewal quoted an increase of about 45% over last year for property, liability and fleet coverage. Staff said they had solicited additional quotes and will present options and temporary appropriations at a special meeting before June 30 to ensure legal appropriation and insurance coverage timelines are met.
The board approved the financial report by roll call and directed staff to return with competitive insurance quotes and a recommended temporary appropriations resolution ahead of the fiscal deadline.
