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Treasurer warns county has stopped fund advances; district shows positive year‑to‑date cash
Summary
The board heard that Cuyahoga County notified treasurers it will stop advancing settlement funds, while the district reported revenue up 24.6% year‑over‑year and a projected $19.6 million general‑fund cash balance at year end.
Treasurer Craig presented the district’s month‑over‑month financial update and warned the board that Cuyahoga County had told treasurers it will “no longer going to advance funds to us at all,” a change the district is investigating with the county commission.
Craig said revenue is up 24.6% year over year, driven by the timing of county settlements, and that the district currently projects a June year‑end general fund cash balance of about $19.6 million, a net increase of approximately $389,000 from forecast. He reported days of cash on hand at about 122 days versus the district policy minimum of 90 days. The treasurer cautioned that if county advances remain suspended the district may need to draw on investments to meet payroll and normal expenditures.
Board members asked clarifying questions about settlement timing, higher expenditure categories (including increases in salaries and audit/settlement fees), and plans for a follow‑up presentation. The treasurer said he will update the board again at the end of May and is seeking clarity from county officials.
