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Treasurer: grant advances and drawdowns easing district cash-flow pressures
Summary
Treasurer Lindsay told the board the district has improved its grant cash-flow by receiving more upfront payments and using allowable advances — a change that has eased prior challenges with reimbursement timing.
Treasurer Lindsay told the board that a change in grant payment timing and use of allowable advances has eased the district’s prior cash-flow problems tied to reimbursements. “For 07021, we're allowed to do advances of up to 3 months at a time,” Lindsay said, explaining that the district has been able to take upfront payments and then draw down against them, reducing the need to wait for reimbursement.
Lindsay said that accounting treatment moves grant receipts into deferred revenue and recognizes them as expenses are incurred and vendor bills paid, which has helped smooth cash flow through the year. Board members who requested more detail were told staff can provide a deeper dive into the cash-flow schedules in the packet.
