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Treasurer reports stable cash position, notes uncertain catastrophic reimbursement
Summary
Treasurer reported projected receipts of $58.8M and expenditures of $58.5M, a two-day cash level of 122 days, and that the state catastrophic-reimbursement pool may yield less than last year; board scheduled a special finance-focused meeting June 1.
Treasurer Greg presented the district’s latest financial snapshot: projected receipts of $58,800,000 and expenditures of $58,500,000, producing a roughly $400,000 positive variance. He said the district’s two days-of-cash metric at the end of April stood at 122 days, consistent with earlier forecasts.
Greg attributed much of the revenue improvement to a roughly $600,000 payment from the county auditor tied to a reappraisal and to investment interest income. He also warned that purchased services have increased and that catastrophic-cost reimbursements from the state are subject to a fixed pool; while last year the district received about $600,000, this year the forecasted amount is uncertain and could be closer to the $400,000 the district used in projections.
"We submit all of the costs...and then we get a percentage of that back," Greg said of the catastrophic-reimbursement process, noting the state’s pool (described in the meeting as about $90,000,000) is divided across all districts that apply. The board set a special finance session for June 1 to focus on finances and the coming budget cycle.
