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Sinton ISD reports $66M in district investments; interest revenue down slightly year-over-year
Summary
The district reported approximately $66.0 million in investments for August 2024 and $4.59 million in interest revenue for fiscal year ending Aug. 31, 2024, a decrease of about $160,796 from the prior year largely attributed to lower investment balances.
Sinton ISD's quarterly and annual investment reports showed approximately $66.0 million in district investments as of August 2024 and interest revenue of $4,586,977.52 for the fiscal year ending Aug. 31, 2024.
The Assistant Superintendent for Business, Melissa Villarreal, reported that 55.6% of interest revenue ($2,548,780.83) was attributed to General Fund investments, 14.1% ($647,870.79) to Debt Service investments, and 29.7% ($1,360,741.06) to Bond Fund investments. The report noted a modest decrease in interest revenue (about $160,796) from the prior year, which the packet attributed to lower average investment balances.
The report was presented as information to the board; no vote was required beyond acknowledgment in the consent/finance packets.
