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Treasurer reports $798,000 surplus; FY26 amendment will include up to $6 million transfer to capital and additional federal funding
Summary
District treasurer reported March revenues near projections, an approximately $798,000 surplus, capital outlays driven by construction and solar project payments, and an FY26 budget amendment that includes a proposed transfer of up to $6 million from maturing investments to capital projects and the inclusion of additional federal funds.
District Treasurer Mr. Shepard told the Cary CCSD 26 committee the district's finances are in good shape, with revenues largely tracking projections and a current surplus of about $798,000.
Shepard said construction projects have driven fluctuations in capital outlay (one line item showed an 859% change year-over-year) and noted a sizable payment for the district's solar project in the recent month. He said the district will take up to $6 million of maturing investments in June and shift those funds back to the education fund so a transfer can be made to capital projects; those funds are intended to help finish the transportation center and to fund the solar project, which are not being paid with referendum dollars.
On the FY26 amended budget, Shepard said there are two main adjustments: the planned transfer from education to capital (up to $6 million, to be reduced if fewer investments mature) and recognition of higher-than-anticipated federal funding (additional Title I and other federal awards). Shepard also noted the business office recently received a certificate of financial excellence from the Association of School Business Officials International.
Board members asked follow-up questions about vendor spending and packet availability; Shepard said he would provide a note about expenditures with a vendor named Ally Hearns and that the full amended budget is being refined ahead of next week's meeting.
