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Rankin board authorizes purchase of 13‑week Treasury bills; district reports positive fiscal year
Summary
The board authorized the district treasurer to buy 13‑week Treasury bills on or after May 12, 2025 (Education $1,750,000; Building $300,000; Transportation $600,000) and heard that the amended FY25 budget looks better than projected despite expected year‑end deficit tied to paving work.
Board members voted unanimously on April 28, 2025 to authorize the District Treasurer to purchase 13‑Week Treasury Bills on or after May 12, 2025 in the following amounts: Education Fund $1,750,000; Building Fund $300,000; Transportation Fund $600,000.
Dr. Matt Gordon reported that the district "continues to have a positive fiscal year," noting that the Amended Budget is outperforming the Original Budget projections but that he still anticipates deficit spending at year end due to expenses from the recent Paving Improvements Project. The board approved consent‑agenda financial reports (Treasurer's reports, financial and activity fund reports) and separately approved the investment authorization by roll call vote.
Why it matters: the authorized short‑term investments are a cash‑management step to earn interest on operating balances; the board will still need to monitor effects of capital expenses such as the paving project on year‑end reserves.
