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Treasurer details revenue gains, investment moves and spike in meals after district-wide free-meal rollout
Summary
The treasurer reported revenues up about 7% year over year, a move of roughly $5M (part of about $8M) into longer-term investments, and a jump to just over 56,000 school meals served following a full CEP rollout.
At the board meeting, Mrs. Roberts, the district treasurer, summarized the district’s finances and operations for September and early October.
"So far in revenues, we have received just under $10,000,000 compared to 9,300,000 last year, so up 7%," Mrs. Roberts told the board. She said state grant receipts were about $3,100,000 — up roughly 9% from the same period last year.
On investments, Roberts said the treasurer’s office moved about $5,000,000 into longer-term investments with METER and a total of about $8,000,000 out of daily accounts to take advantage of longer-term yields while keeping STAR Ohio as a near-term cash source. "We took a little bit of a hit in some interest rates today, but long term, I do think it will pan out," she said.
Roberts also reported on the district’s move to full Community Eligibility Provision (CEP) for student meals. She said total meal counts were just over 56,000 served during the reporting window, compared with about 38,000 last year — an increase of roughly 18,000 meals. "That's 1 of the things that, you know, we when we really looked at what we wanted to do with food services ... our community is taking advantage of that," she said.
Despite higher meal counts and some increased costs, Roberts said the food-service fund balance stood at $270,000 and staff are watching October state payments that will reflect the new participation figures. She also reviewed benefit and salary trends (salaries up about 5%, benefits up about 14%) and said open enrollment for employee benefits begins in November.
Board members asked clarifying questions about cash timing, debt payments and insurance claims. Roberts said the finance team is monitoring cash flow month to month to ensure funds are available for cyclical obligations such as debt payments due Dec. 1.
No board vote was required on the financial report; members accepted the report for the record and asked staff to monitor October foundation payments.
