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Treasurer reports $20.3M cash balance; monthly revenue and expenditures noted
Summary
Treasurer presented June financials: ending cash ~$20,300,000, 126 days of cash, monthly revenue ~$1,000,000 and expenditures ~$5,000,000; fiscal-year-to-date revenue was up about 4% and expenditures down about 9% versus prior year.
Treasurer Greg presented the district's June financial report at the July 14 meeting. He said the district had an ending cash balance of approximately $20.3 million and about 126 days of cash on hand. Monthly revenue for June was reported at about $1,000,000 and expenditures about $5,000,000, consistent with seasonal timing differences tied to tax collections and settlement schedules.
Greg said fiscal-year-to-date revenue is up roughly 4% compared with the prior year while year-to-date expenditures are down about 9%, noting timing and outstanding bills as causes. He also told trustees the county had shifted a usual settlement date (an August advancement) to a September disbursement this cycle, which could compress the August-to-September cash window; the new investment dashboard and cash position spending plan have been posted for the board's review.
