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Board approves March financial reports as treasurer warns of continued deficit spending
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Summary
Treasurer presented March financials showing $390,169.79 in the general account and $19,000,541.24 in other investments (total $19,390,711.83); board approved the reports and an amended appropriations resolution to capture carryover grant funds while treasurer warned the district continues to deficit spend.
The Trotwood‑Madison Board of Education approved the district's March financial reports and a resolution to amend appropriations to reflect carryover grant funds, after the treasurer reviewed month-end balances and cautioned that the district is still deficit spending.
Treasurer Miss Adams told the board the P & C general account balance is $390,169.79 and other investment accounts total $19,000,541.24, for combined bank and investment balances of $19,390,711.83. She said some outstanding checks remain and that the adjusted bank balance "matches our financial balance in [the district system], which is what we want to happen." The treasurer also said the district had not yet received its April tax payment and reiterated that the district is continuing with deficit spending.
The board moved to approve the March financial reports on a roll call vote and later approved an amended appropriations resolution to budget carryover grant funds. The treasurer explained that carryover grants require formal board approval when the available money changes so those funds can be spent.
Why it matters: the reported balances and the continued deficit-spending notice frame the district's budget choices and the earlier board discussion about potential new revenue. The treasurer asked the board to approve checks over $1,000 for the record and summarized that a finance committee met earlier to review the monthly reports.
Note about transcript figures: the treasurer read an "adjusted bank balance" figure that is unclear in the meeting transcript; she stated that the adjusted balance matches the district's financial balance in the district system. The district did not present a detailed vote tally in the public transcript beyond roll-call confirmations that the motions passed.
What happens next: the board approved the reports and amended appropriations; staff will continue to monitor tax receipts and present updated projections to the board.
