Treasure reports February finances, flags delayed tax settlement and millage changes

The treasurer presented the monthly financial report for the month ending in February, telling trustees the district is roughly on track with expenditures and that revenues lag behind expected levels because tax settlements arrive later in the fiscal cycle.

"When you look at eight months of actuals, you should have spent about 67% of your money... we're right at 66% of our expenditures," the treasurer said. On the revenue side, the treasurer reported receipts were at about 61% and noted that taxes are typically settled twice a year; the county auditor's settlement was delayed but expected by the end of the month.

The treasurer also said the county auditor requested reductions to the bond-retirement millage and the substitute levy, noting the bond-retirement millage was reduced from 5.5 mills to 1.5 mills — a reduction that will lower tax collections for that purpose. The treasurer asked the board to approve one invoice that, under board policy, exceeds the threshold for administrative approval.

Board members asked clarifying questions about normal invoice thresholds (the treasurer said $3,000 is typical) and about process improvements to avoid repeated late filings. The treasurer said staff will follow board policy and bring exceptions for board approval when required.

What happens next: the treasurer will monitor the county tax settlement and report back if the anticipated settlement does not arrive by month-end; the board approved the treasurer's consent agenda during the meeting.