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Treasurer reports fiscal-year highlights: carryover balance near 20% and salary increase
Summary
Treasurer Megan reported the district's carryover cash balance is about 20% of expenses, salaries increased approximately 3.27% year-over-year, and the district is relying more on local revenue after state formula adjustments; OFCC facility funds hold about $2,000,000.
Megan, the district treasurer, summarized fiscal-year highlights and fund balances. She said last year's unusual public-utility revenue spike was due to a Nexus pipeline payment and that salaries rose about "3.27," consistent with forecasts. The district's carryover cash balance is currently about 20% of expenses, which the treasurer noted is near where many stakeholders expected the number to be when discussing fiscal policies.
Megan reported the district's revenue mix has shifted slightly because the state adjusted its formula, which reduced state contributions; that change increases reliance on local revenue streams. She also reported that the district's OFCC building fund balance is approximately $2,000,000 and that the permanent-improvement (PI) levy typically supports capital needs like buses and playgrounds. Food service reimbursements from state and federal sources are keeping the program near break-even.
The report included millage details mentioned on the record (bond millage 4.1, inside millage 4.2, permanent improvement 0.9), a recurring annual transfer near $400,000 into an OFCC-related maintenance fund, and a reminder that staff monitor transfers and capital needs with the county auditor.
