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MSD Lawrence Township board reviews year‑end finances, tables detailed audit questions and approves investment policy
Summary
Board heard a year‑end financial report showing a roughly $15 million surplus and $2.9 million in investment interest, asked for fuller responses on audit findings (board member Miss Lawrence moved to table detailed answers), and approved an investment resolution that allows limited long‑term investments; several technology procurement motions were also approved by voice vote.
The Metropolitan School District of Lawrence Township on Monday received a year‑end financial briefing showing stronger cash balances and greater investment returns, and the board asked administration to return with fuller answers on audit findings before continuing detailed discussion.
Finance presenter Mr. Miles told the board the district report shows “about a $15,000,000 surplus” and that investment interest earned in 2024 was roughly $2.9 million, attributing the gain to higher interest rates and increased investable cash as CARES and other reimbursements came in. He described the $45 million figure shown in the packet as an aggregation of all district funds that moves month to month, and said the district uses a laddered approach to match maturities to cash needs.
The audit prompted numerous board questions.…
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