Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Marseilles ESD 150 treasurer reports $1.10M operating balance; district faces $43,000 EAV-driven shortfall
Summary
Treasurer Craig Hepner reported an operating balance of $1.10 million as of April 30 but noted a $91,000 month-over-month decrease; city officials also told the board a lower EAV will reduce revenue by about $43,000.
Treasurer Craig Hepner told the Marseilles Elementary School District #150 board on May 22 that the operating account balance as of April 30 was $1.10 million, a decrease of approximately $91,000 from March 31.
Hepner said April receipts totaled $636,000, which included roughly $296,000 in General State Aid, about $35,500 in interest income and about $32,800 in Corporate Personal Property Replacement Tax receipts. He reported year-to-date revenue running about 5.7% over budget and expenditures running about 5% under budget; the district's CD investment portfolio yield as of April 30 was 3.54%.
Separately, a City of Marseilles representative told the board that the district's equalized assessed value (EAV) came back lower this cycle, producing an estimated $43,000 loss for the district — the first such EAV decline in Superintendent Brenda Donahue's 11 years in the role.
