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CFO reports fund balances; board approves treasurer's report
Summary
CFO Kristi Newby presented the district's fund balance details, explained timing for child nutrition reimbursements and bond revenue, and reported accrued personnel costs around $39 million; the board approved the treasurer's report by roll call.
Chief Financial Officer Kristi Newby presented the treasurer's report and fund-balance sheets, explaining revenue timing and current expenditure trends and answering board questions about accruals and cash flow.
Newby noted that child nutrition reimbursements for October are typically delayed and may not arrive until December or January; claims are paid early each month and the state approval process can cause stacked submissions. She told the board bond revenue will not arrive until bonds are sold in June 2026 and reminded members that sinking-fund and bond interest payments occur on a schedule with the largest principal-and-interest payment due in May 2026.
"Accrued personnel costs are now still holding at $39,000,000, which is approximately $3,250,000 a month," Newby said, and she told the board current general-fund expenditures and other funds were tracking normally. She also explained that building fund custodial and maintenance personnel costs inched up by $20,000 month-over-month due to a position turnover and that the district budgets to allow up to $2,000,000 in personnel costs in the building fund.
Board members asked questions about fund-balance presentation and percentages; Newby said she could adjust the reports if the board preferred less detail. The treasurer's report was moved, seconded and approved by unanimous roll call.
What happens next: Newby will continue monthly fund-balance reporting and provide updates as bond sale and revenue timing become firm.
