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Superintendent reports $1.16M positive through March, says agency debt reduced to mid-$600K range
Summary
Superintendent reported income-over-expense through March of $1,161,346, detailed a March payment of roughly $1.1M toward agency debt, and said a $550,000 RAN deposit and a billed $988,000 reconciliation are expected to improve cash flow.
Superintendent (S4) told the board the district’s financial position through March showed income over expense of $1,161,346 and credited a rate-setting change and a billed reconciliation of $988,000 for improving cash flow.
In his report, S4 said the district paid nearly $1,100,000 in March toward the debt owed to the William George Agency and that, after additional purchases and payments, the ledgered debt had come down into the $600,000 range. He said the district raised its daily rate to $313 to reflect current costs and that paying down the agency debt was a priority before July.
Anita (S8), presenting the financial report, confirmed the near-term cash position: a $550,000 revenue anticipation note (RAN) deposit had been recorded and the district showed approximately $100,000 in operating cash the morning of the meeting. She noted a remaining cumulative deficit from prior years of about $415,000 that the board still needs to manage with upcoming capital repairs and the recently approved teachers’ contract.
The board discussed the RAN and grant reimbursements that will be used for roof repairs and generator/paving projects; Anita said the billed reconciliation is in the district’s accounts and typically takes 30—30 days to clear the state channels. Details and numbers are in the transcript between SEG 184 and SEG 1211.
