Board approves treasurer's report, hears $100,000 Google donation and bond timing update

The Stillwater Board of Education approved the treasurer's report and bond expenditures after Treasurer Kristi Newby reviewed recent revenue and expenditure changes.

Newby told the board that the district "finally did receive our 100,000 donation, from Google for ed services that came through" and noted that a $50,000 McKinney-Vento award had also been posted to the appropriate project line. She said the recent Federal Reserve reduction in the fed funds rate on Oct. 29 will slightly reduce the district's interest earnings and that bond proceeds are not expected to be received until May 2026 (to be recorded in bond fund 34).

The treasurer highlighted accrued personnel costs and fund balances: "it is still holding at $39,000,000" in accrued personnel costs for the general fund, building fund accrued personnel costs were cited at about $1,730,000, and child nutrition accrued personnel costs at roughly $3,100,000. Newby also reminded the board that sinking-fund interest and fees will post at month end and be reported in December's statements.

Board members asked for a routine percentage report to monitor the fund balance against board policy; Newby agreed to provide the overall fund percentage moving forward. A motion to approve the treasurer's report and bond expenditures passed on a roll-call vote with 'Yes' recorded from Douglas, Dylan, Riley, Washington and Baker.

Separately, Newby explained a "second revised budget" prepared to align prior-year reporting with the state after late auditor adjustments; she said the changes do not materially change the district's current-year budget. The board voted to approve the second revised budget by roll call.

The board did not identify any additional actions tied to the treasurer's presentation beyond the approvals; members thanked Newby for the report.