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Superintendent recommends investing Evidenced Based Funding in ISDLAF/PMA at about 3.56% interest
Summary
Superintendent Aughenbaugh proposed placing Evidenced Based Funding deposits into ISDLAF/PMA to earn roughly 3.56% interest and transfer funds into checking as needed; the committee reviewed cash-flow history and a 4.0/4.0 financial profile score.
Superintendent Aughenbaugh told the Finance Committee the district could invest annual Evidenced Based Funding revenue in ISDLAF/PMA to potentially increase interest earnings and transfer funds into the district checking account as expenditures require. He said the PMA interest rate is approximately 3.56% and that Evidenced Based Funding revenue is approximately $1.6 to $1.9 million annually.
Committee members reviewed a cash-flow analysis and the district's historical financial reports, and the minutes note a financial profile score of 4.0 out of 4.0. No formal investment decision was made at the committee meeting; the proposal was discussed as a recommendation for the board to consider when timing and liquidity needs are confirmed.
