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District finance report flags timing shift in projected shortfall; board told collections may arrive later in year
Summary
Treasurer reported current positive balances but warned of a likely cash‑flow shortfall shifting earlier due to a roughly $130,000 tax collection shortfall; district projects going negative in April instead of May unless collections improve.
The board received a financial update showing the district’s cash position and a forecast that the district may begin operating in a negative cash position earlier than last year.
The financial presenter said current month‑end actuals show roughly $379,000 and that prior bond bank timing had delayed negative balance until May last year. This year, due to an estimated roughly $130,000 shortfall in tax collections, the presenter said the district will “probably go negative maybe at the end of this month, definitely in April.” The presenter added that historically delayed payers often increase collections later in the fiscal year and that the district is hoping those receipts will mitigate the shortfall.
Board members asked clarifying questions; no formal budget adjustments or additional appropriations were recorded in the provided transcript excerpt. The district plan as discussed is to monitor collections closely and report back when more definitive numbers are available.
