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Marseilles ESD 150 reports $2.19M operating balance; revenue ahead of budget
Summary
Treasurer Craig Hepner told the Marseilles school board the district's operating balance stood at $2.19 million on Nov. 30, with year-to-date revenue about 14% over budget due to real estate tax timing and expenditures about 3% under budget.
Treasurer Craig Hepner told the Marseilles Elementary School District #150 Board of Education on Dec. 18 that the district's operating account balance as of Nov. 30 was $2.19 million, an increase of $373,000 from Oct. 31. "The balance in the operating account as of November 30 was $2.19 million," Hepner said.
Hepner said November receipts were just under $390,000, including $296,000 in General State Aid and $34,200 in interest income. He told trustees the district's revenue is running about 14% over budget through the first five months of the fiscal year, attributing the variance to the timing of real estate tax receipts; expenditures are running about 3% under budget. Hepner also reported the yield on the CD investment portfolio was 3.89%, about 4 basis points lower than the prior month.
The report drew no substantive debate and was followed by routine motions approving the consent agenda and placing the annual audit and financial reports on file. The board approved the motions unanimously.
