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District finance chief reports steady cash but constrained fund balance; board approves monthly report
Summary
Jeff reported March receipts including a $312,210 equalization aid payment, a $22,752 per-pupil aid payment, transfers to investment accounts and seasonal borrowing patterns; board approved the financial report by voice vote.
The Raymond #14 School District board approved its monthly financial report April 20 after a summary from district finance staff.
Jeff told the board the district received an equalization aid payment of $312,210 in March and a per-pupil aid payment of $22,752. He reported a transfer of $370,000 into the district's investment account (referred to in the packet as the "WHISK" account), interest earned for March of roughly $3,747 and an ending investment balance of about $1.345 million. Overall cash at month-end was described as about $1.4 million, but Jeff cautioned that the available fund balance is smaller once liabilities and short-term borrowing are accounted for (he cited a fund-balance figure near $624,000). He explained the district frequently uses short-term borrowing from the community bank to manage payroll and bond payments through thin months.
Board members sought clarification about state trust-fund payments and learned the district has multiple state trust-fund loans with staggered original amounts and a current outstanding one-year figure discussed in the meeting. After discussion, the board moved to approve the financial report as presented; the motion carried by voice vote with no recorded opposition.
Jeff invited board members to follow up with questions and reminded the board that cash flow timing and bond payments are driving near-term cash planning.
