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Finance director summarizes cash position; board asks how wind‑farm and capital outlay dollars are used
Summary
Mister Maldonado told the board operational cash and dedicated funds total tens of millions but much is restricted; board raised concerns about perceived large cash balances and asked how wind‑farm and capital outlay funds are spent.
Mister Maldonado presented the district’s quarter‑4 budget and a monthly cash report, identifying the district’s fund groups (operational, state and federal, activity funds, debt service, capital outlay, bond/builder and a wind farm account).
Maldonado said the district started August with an operational beginning balance in the low tens of millions, recorded August revenues and expenditures, and ended that month with an operational fund balance that reflects revenues received and money that is dedicated to specific purposes. He said some state and federal accounts run on a reimbursement model so the district temporarily uses operating cash until those funds are collected.
On dedicated accounts, he described the wind farm fund and how the district uses it: "We buy our trucks through there, we pay for some professional development sometimes... it's really an open ended account," Maldonado said, adding the district keeps approximately $1 million there as a reserve because the wind‑farm payments arrive annually in spring.
On capital, he said the public school outlay account (31200) is being used to fund the Continental Divide building renovation and that the capital outlay money is not a required local match for that project. Maldonado noted the bond/building fund and said the district uses that account for construction and final payments on projects such as Blue Water and Mesa View.
Board members asked why outside reviewers sometimes flag the district’s cash balance as large. A board member said, "they said it was too large; why aren't we spending it?" Maldonado explained that total cash includes many restricted accounts and encumbrances and that the operating cash lines are the clearest measure state reviewers use.
Maldonado reviewed reconciled cash balances and investments, reporting the district earned interest in its sweep and investment accounts and that some outstanding loans to state/federal programs have been repaid since June. He said the reconciled cash balance and the operating cash balance are lower after accounting for loans and restricted funds, and cautioned that the district operates on a cash basis with dedicated funding rules.
No new budget appropriation or policy decision was made; the board requested additional clarity for staff and tribal partners about where specific project funds originate and how they will be used.
