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District finance chief reports $4.3M deposit from Clay County, revises cash outlook
Summary
Finance director Doug Schwen reported a $4.3 million deposit hit district accounts and said the new funds materially improve the operating‑fund outlook, though the board will continue detailed budget reviews in upcoming work sessions.
At the board meeting, finance lead Doug Schwen reported that Clay County deposited $4.3 million into the district's accounts, a payment that will materially change the district's operating fund picture.
"I am happy to report that today we had 4.3 million hit the bank," Schwen said, adding staff will allocate the funds into the appropriate accounts to reflect an accurate ending cash balance. He noted the cash‑balance projection for the end of March will change and that district staff will revisit reserve‑percentage targets at the next work session.
Schwen said projected ending cash balance figures and the legislature's ongoing activity make final budget projections uncertain; the board scheduled more detailed numbers for a work session on April 24 and additional budget review items for May and June. Trustees discussed target reserve percentages and the potential for legislative changes to reduce state support.
The board thanked staff and noted further budget work will be presented at upcoming meetings.
