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Toltec district reports steady reserves, buys shuttle and upgrades IT to strengthen cyber coverage
Summary
District staff told the Toltec board that month-to-date expenditures are about $865,000, reserves are on track for roughly 10% of the budget (projecting about $1.09M–$1.2M), and the district has purchased a shuttle bus and is upgrading IT to improve cyberinsurance limits.
District administrators told the Toltec School District board the district’s finances are in line with expectations and that planned capital and security investments are underway.
A finance presenter reported month-to-date expenditures of about $865,000 and said the district is on track to maintain a reserve target of roughly 10% of the annual budget. The presenter showed a current reserve estimate of about $1.092 million with a projection that the district could finish closer to $1.2 million, depending on remaining revenue and expenditures.
On capital outlay, the presenter confirmed the district purchased a white shuttle bus and is progressing on an IT infrastructure upgrade. The upgrades are intended to strengthen cybersecurity posture and to increase the district’s insurance limits; the presenter contrasted a prior $250,000 payout limit with a $100,000 deductible to the new coverage and said the upgrades make raising coverage limits feasible.
Board members did not vote on new capital projects at the meeting. The presenter said remaining one-time funds will be used to complete an English language arts curriculum purchase and related capital purchases in the next fiscal year.
No formal audit or committee action was requested during the update; board members asked clarifying questions and received the report by voice consent.
