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BISD finance update: year-end revenues, investments and 5.44% interest earning rate reported
Summary
Assistant Superintendent Dennis Jurek reviewed 2023—24 year-end state and local revenue collections, final accounting entries to be brought to the Aug. 29 regular meeting, bond expenditures and a cash/investment report showing a 5.44% interest earning rate.
Dennis Jurek, Assistant Superintendent of Finance and Operations, presented the year-end financial review at the agenda-review meeting. Jurek summarized state and local revenue collections for 2023—24, noted final accounting entries would be presented at the Aug. 29 regular meeting, and reported bond revenues and expenditures tied to capital projects, including LED transition costs and repairs from storm damage with anticipated insurance reimbursements.
Jurek also reviewed the food service fund balance and equipment expenditures, interest-and-sinking activity including bond payments made in August, and the district's cash and investment holdings. The district's cash and investment report was described as showing a 5.44% interest earning rate. Trustees were briefed on these items as components of the district—budget-planning process.
