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CFO presents March financials; board hears cash-flow and legislative concerns
Summary
CFO Craig Yaniglos presented March 2025 financials showing projected FY revenue of $56.36M (0.1% under forecast) and projected expenses of $57.09M (0.66% under forecast). The meeting record notes concern about proposed state legislation capping carryover balances that could affect district cash flow.
Craig Yaniglos, the districtCFO, presented the March 2025 financial report highlighting a projected total revenue of $56,358,339.39 versus a forecast of $56,414,589 (an unfavorable variance of $56,249.61) and projected expenses of $57,087,154.30 (approximately $377,326.70 under forecast). The packet and presentation included month-by-month cash balances, per-fund breakdowns and a projected ending cash balance of roughly $26.05 million as of June 30, 2025.
Minutes and the meeting summary additionally record board concern about proposed state legislation that would cap district cash carryover balances; trustees noted such a cap could limit cash-flow flexibility, reduce investment earnings that help extend levy cycles and increase reliance on local levies. The CFO's materials included detailed fund reports, receipts and expenditures by fund and a listing of monthly cash-flow swings that the board said would be important if statewide funding policy changes occur.
No formal motion was required for the CFO report, but the financials were entered into the record and will be part of ongoing fiscal monitoring by the finance committee.
