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Treasurer reports $1.19 million operating balance, revenue above budget
Summary
Treasurer Craig Hepner told the board the district's operating balance was $1.19 million as of March 31, receipts for March totaled $427,000, and revenue is running about 6.5% over budget year-to-date.
Treasurer Craig Hepner reported at the April 23 meeting that "The balance in the operating account as of March 31 was $1.19 million," a $376,000 decrease from the Feb. 28 balance. He outlined March receipts of $427,000, which included roughly $296,000 in General State Aid, about $31,000 in interest income and nearly $20,000 in Corporate Personal Property Replacement Tax revenue.
Hepner told the board revenue is running roughly 6.5% over budget year-to-date through nine months, primarily because of the timing of real-estate tax receipts, while expenditures in March were $785,000 and are about 4% under budget year-to-date. He also noted a CD investment yield of 3.54% as of March 31.
