Board hears December financials showing $49.5M general fund balance; approves budget amendment

Mr. Godwin presented the district's December financial reports, describing the balance sheet and key year-to-date figures. He reported that "cash and cash equivalents totaling investments and related receivables on that balance sheet totaled $16,500,000" and noted an unrealized gain of $718,000 and year-to-date money market income of $445,000. The general fund ending balance for December was reported as $49,500,000, which the presenter equated to roughly a 5.6-month reserve; accounts payable for the month were listed near $4,000,000 and payroll and benefits totaled approximately $7,100,000.

Following the presentation, the board considered a proposed budget amendment (tab 1) to adjust beginning fund balances and add realized state and federal revenues and the corresponding expenditures (including construction contracts and an energy savings contract). A motion to approve the amendment was made and seconded (motion by Mr. Burke, second by Mr. Lathers) and carried by voice vote.