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Sinton ISD reports $66 million in investments and $4.59M interest revenue for fiscal year
Summary
The district's monthly investment update reported approximately $66.0 million in total investments for August 2024 and an annual interest revenue of $4,586,977.52, with 55.6% attributed to General Fund investments, 14.1% to Debt Service and 29.7% to Bond Fund investments.
Assistant Superintendent for Business Melissa Villarreal presented the monthly and annual investment reports during the Sept. 16 meeting, showing total district investments of roughly $66.0 million for August 2024. The annual investment report for the fiscal year ending Aug. 31, 2024, listed interest revenue of $4,586,977.52, with 55.6% ($2,548,780.83) attributed to General Fund investments, 14.1% ($647,870.79) to Debt Service, and 29.7% ($1,360,741.06) to Bond Fund investments.
The report noted a slight year-over-year decrease of approximately $160,796 attributable to lower investment balances. District depository arrangements are with Prosperity Bank and Texpool for TEA-related deposits. The board acknowledged the reports as presented; no vote beyond consent acknowledgement was recorded.
