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Marseilles ESD 150 reports $1.57M operating balance; district flags timing-driven revenue surge
Summary
Treasurer Craig Hepner told the board the district’s operating balance was $1.57 million on Feb. 28, receipts for February totaled about $383,000 and year-to-date revenue is running roughly 10% over budget due mainly to real-estate tax timing.
Treasurer Craig Hepner told the Marseilles Elementary School District #150 Board of Education that the district’s operating-account balance on Feb. 28 was $1.57 million, a decline of $444,000 from Jan. 31. He said receipts for February were about $383,000, including $296,000 in General State Aid and $32,000 in interest income.
Hepner told trustees that revenue year-to-date is roughly 10% over budget, driven primarily by the timing of real-estate tax receipts, and that February expenditures were $811,000, putting expenditures about 4% under budget through eight months. He also noted investment yields had fallen slightly: "The yield on the CD investment portfolio as of February 28 was 3.54%," a decline of about 10 basis points since late January. The board took no separate vote on the treasurer’s report; the figures were received as part of the packet for review.
