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Treasurer: District operating balance $2.73M after October receipts; expenditures slightly above budget
Summary
Treasurer Craig Hepner told the board the operating account held $2.73 million on Oct. 31, receipts were $873,000 in October and expenditures $982,000, with revenue running about 15% ahead of budget year-to-date and expenditures about 3% over.
Treasurer Craig Hepner reported to the Marseilles Elementary School District #150 Board of Education that the operating account balance as of Oct. 31 was $2.73 million, a decline of $129,000 from Sept. 30.
"The balance in the operating account as of October 31 was $2.73 million," Hepner said, and he provided a month-by-month breakdown: October receipts were $873,000, which included $320,000 in LaSalle County real estate tax receipts and $282,000 in general state aid, plus $71,000 in Corporate Personal Property Replacement Tax and $39,000 in investment income. He said revenue is running about 15% ahead of budget year-to-date, largely because of timing in real estate tax receipts.
Hepner reported October expenditures totaled $982,000, including $170,000 in building-improvement spending, and said total expenditures are running about 3% over budget through the first four months of the fiscal year. He also noted the district's CD portfolio yield as of Oct. 31 was 4.293%, essentially unchanged from September.
Board members voted unanimously to approve the consent agenda, which included the treasurer's report and related financial reports. The vote record for consent was: Barnes, Byone, Carpenter, Cowie, Kaminski, Miller and Morey — all voting aye.
The board did not request further budget action at this meeting; follow-up on timing of tax receipts and building-improvement planning is expected in future budget discussions.
