Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Finance director details disbursements and stale checks; trustees schedule special budget meeting
Summary
Finance director Stacy Gallagher presented detailed April disbursements, year-to-date revenue and grant figures and a list of roughly 20 stale checks being reconciled; trustees discussed potential steps to increase investment returns and scheduled a special budget meeting after May 19 for budget presentation and approval.
Stacy Gallagher, the district finance director, presented a detailed financial report to the Central Consolidated Schools board on May 18, outlining April operational disbursements, year-to-date expenditures and revenues across general, impact-aid and grant funds, and a list of about 20 stale checks from prior fiscal years the finance office is attempting to clear.
Gallagher reported operational and year-to-date totals for multiple funds and highlighted grant revenue streams (including Carl Perkins and impact-aid categories), while noting some transcription errors in the meeting readout. She identified roughly 20 stale checks predating the current fiscal year and said staff are contacting vendors and individuals to reconcile those items.
Board members raised investment strategy questions. Mr. So noted that neighboring districts had generated higher interest income and urged staff to consider higher-yield investment options or sweep accounts to increase earnings. Gallagher reported year-to-date interest income figures during her presentation and said the district had already implemented sweep accounts previously to help increase returns.
Trustees agreed to hold a special budget presentation/meeting shortly after May 19 to review the budget documentation ahead of adoption. They also requested additional future agenda items including a deeper special-education director report and a review of the student code of conduct with emphasis on anti-bullying provisions.
What happens next: finance staff will provide a budget presentation at the special meeting, pursue reconciliation of stale checks, and examine investment options to improve interest income for the district.
