Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Finance director reports $114.8 million balance; district bond priced below 4%
Summary
Mark Woods reported a reconciled May 31 balance of $114,781,842.79, $29,000,209.93 in investments and said a recent bond issuance priced favorably (below 4%), citing Moody's favorable rating comments.
Mark Woods presented the monthly finance report to the Madison County Board of Education, including reconciled balances, investment totals and recent borrowing results.
"As of May 31, we ended with a $114,781,842.79," Woods told the board, and said the district still holds about $29,000,209.93 in investments while awaiting tax receipts later in the year to support cash flow. He described this period as a normal cash‑flow timing window before property tax receipts arrive in November.
Woods also reported a bond issue that priced below 4 percent and said ratings comments from Moody's cited the district's financial stability, which helped achieve favorable pricing. The board moved to approve the monthly financial report and the 2026–27 pay‑date schedule; both motions were seconded and approved by voice vote.
Board members asked procedural questions about timing and investments; Woods said staff will continue to manage cash flow and bring any required adjustments back to the board.
The finance report was accepted by voice vote and the board asked staff to provide regular updates on cash‑flow status and any material changes to investment holdings or debt servicing.
