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Board approves September financial report showing $65M cash and $50.5M general fund balance
Summary
The board accepted the district's September financial statements: cash and cash equivalents of $65,000,000; investments cost basis $16,300,000; general fund ending balance of $50,500,000 (6.2 months reserve). Net income figures were reported for different accounts.
District finance staff presented the September financial statements and compared actuals to the annual budget. The presenter reported cash and cash equivalents totaling $65,000,000 and investments and related receivables with a cost basis of $16,300,000; page exhibits showed a net income figure of $527,000 for one account and an account overview reflecting $1,800,000 net income for the fiscal year. The board asked no questions and approved the report by motion and voice vote.
The finance summary noted overall general fund expenditures ended at about 87.5% and that some capital projects budgeted for 2025 are just beginning; the general fund ending balance was listed as $50,500,000, equating to roughly 6.2 months of reserve. Sales tax remittances were reported as up about 2.5% over the previous year and other local revenue lines showed modest increases.
