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Treasurer reports improved cash position, projects about $400,000 carryover
Summary
Treasurer Jason Midkiff told the Whitebead Board the district is up $156,763.84 year-to-date, received a $28,647.08 Redbud Fund payment to the Building Fund and expects roughly $400,000 in carryover next year; he flagged a $79,500 property insurance payment and a $75,221.42 reduction in state aid.
Jason Midkiff, the district treasurer and superintendent, presented the monthly financial report, saying the district is "up $156,763.84." He compared that to $250,864.76 at the same point last year and noted a $79,500 property insurance expenditure and a $75,221.42 reduction in state aid. Midkiff also reported the Building Fund received its first Redbud fund payment of $28,647.08 and that the fund is up $75,753.54 year-to-date.
Midkiff told the board he expects to carry over about $400,000 into the next fiscal year and that expenses are tracking to plan: "we are 2/3 of the way through and have spent almost exactly 67% of our budget." He said the district should see another sizable Ad valorem deposit next month but that it likely will be smaller than the first. Midkiff said he will work with the treasurer next month to analyze year-end spending decisions to avoid penalties or unnecessarily reducing carryover.
