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Brenham ISD finance officer reports $39 million in bond proceeds; tax collections on target
Summary
Finance staff told trustees the district received $39,000,007.68 in bond-sale proceeds, with the majority deposited to a Texas CLASS construction account; current-year tax collections are tracking at roughly 90–91% of expected.
Sinclair, the district finance presenter, told the board the district received bond-sale proceeds totaling $39,000,007.68 in three deposits and placed the majority into the Texas CLASS construction account to support projects.
"We did receive a total of $39,000,007.68," Sinclair said, and explained that roughly $38 million went into construction funds, about $767,000 was deposited to an insurance (INS) account to cover an upcoming August payment, and approximately $363,000 was reimbursed to operations for prior expenses. Sinclair also reported that current-year tax collections are at about 90–91% and state revenues are tracking as expected through the end of February (midpoint of the fiscal year).
Trustees asked Sinclair for a follow-up ADA (average daily attendance) slide at the next meeting to show budgeted ADA, current ADA and enrollment numbers. Sinclair said current ADA is within about $40,000–$60,000 of the nearly $20 million budgeted state revenue and staff will prepare an ADA update for the next meeting.
