Board hears finance report as large bills, playground and parking work loom

The district’s business manager (staff member S4) presented the monthly financial report and warned of near-term cash-flow pressure as several large invoices arrived. She told the board the student activities income and miscellaneous receipts included a $6,095 item and a Sioux Empire United Way reimbursement; she also reported a 150,000 invoice for playground equipment and said “I already know we're 270 in bills next month” and that she expected to hold checks until state aid arrives.

S4 described investments and a CD cashed Aug. 30, then walked members through expenditures that included a $128,000 payment due to the city and other recurring costs. The business manager said the district’s capital outlay budget is about $1.4 million but that two projects this year are consuming most of that allocation. “We're spending probably 0.75 of our capital outlay budget in the 1st 3 months,” S4 said, and added she will perform a cash-flow analysis to determine whether to liquidate CDs to cover payroll and bills.

Board members pressed for clarification about whether the board must reauthorize accessing CDs; S4 said the annual meeting authorization gives her latitude to move funds for cash management. The board later approved the financials as presented by motion and voice vote.