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Richland CFO: district improved cash-on-hand but still far from target; framework due in January
Summary
CFO Travis Belisle told the board the district closed fiscal 24-25 with days-cash on hand rising to about 4.82, a net gain for the year, and outlined a goal to reach 30 days and an 8% fund balance by 2030; board members praised clearer financial reporting and asked for further details on capital availability.
Travis Belisle, the district's executive director of finance, presented year-end fiscal data at the Dec. 9 board meeting and said the district is making gradual progress toward rebuilding reserves after several tight years.
"We started the year at 2.08 days cash and ended at 4.82," Belisle said, noting the figure shows improvement but remains far short of a healthy target. He told the board a reasonable near-term goal is 30 days cash and described a longer-term target of an 8% fund balance by 2030. "I'm gonna be presenting the final copy of that financial framework" at the board's second meeting in January, he said.
Key figures: Belisle said the district spent about 99.21% of its revenue during the year, and salaries and benefits made up roughly 85.41% of total expenditures. He asked the board to expect conservatism in near-term spending to build reserves. Capital projects spending was highlighted: the capital projects fund saw a near-$7 million net reduction tied to projects completed in the year.
Board reaction and next steps: Several board members praised the clarity of the packet and the focus on financial indicators. Belisle said he will provide month-end capital-availability numbers at the next meeting to clarify funds available for new projects, and he reiterated the district's plan to publish a financial framework that will include the path to reach the 8% fund-balance goal.
Why it matters: Increasing days cash and strengthening the fund balance improves the district's ability to absorb revenue fluctuations and fund operations without service reductions. The board asked for continued transparent reporting and for staff to include detailed revenue/expenditure breakdowns for key funds at the next update.
