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Board hears December finances; timber‑dollars projection could bolster levy funds
Summary
Staff presented the district’s December financials—December revenues of $5.5 million, cash and investments about $12.5 million, and unreserved/designated reserves of roughly $8.9 million—and said Clallam County timber receipts are projected into general and bond funds, with an estimated bond projection of about $302,000.
A district staff member reviewed the December financial report, saying district revenues for the month were $5,500,000 and that cash and investments on hand totaled about $12,500,000 (roughly 19% of the annual budget). The presenter reported unreserved and designated reserves of about $8,900,000 and said the district is monitoring encumbrances for January through the end of the fiscal year to avoid overspending.
On timber revenue, staff returned to a previously tabled item and described two timber-revenue pages from Clallam County showing that DNR timber dollars are captured in two pots: one for EP&O (general levy) and another for the district’s bond debt service. The presenter said Clallam County appears to have received an exemption from a statewide six‑month DNR stoppage and will continue sales in the county; the presenter added a bond projection figure of about $302,000 for the current school year. "There's the reason that there are 2 pages... one goes into our general fund for the EP and O levy. The other goes into our debt service fund for our bond," the staff member said.
Board members asked whether legal or court action might affect timber sales; a trustee noted that judges’ rulings on appeals could change the schedule. Staff said they can obtain more detailed sales information from county finance and offered to invite county staff or the named contacts to a future meeting if trustees want additional detail.
