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Treasurer: district projects smaller deficit despite revenue timing; cash balance projected at $25.99M
Summary
CFO presented February financials showing projected ending cash balance of $25,991,768.55 and a projected decrease to cash of $784,979.11 for FY2024–25; the board accepted a bid that was nearly $100,000 under the projected cost for the middle school roof.
The district's monthly financial report for February, presented by the treasurer/CFO, showed revenues and expenditures tracking near projections despite timing issues with tax advances. The report projects a fiscal-year ending cash balance of $25,991,768.55 and a projected decrease to cash of $784,979.11. The treasurer noted real estate revenue was down over $5 million year-over-year due to the county sending tax bills later than in the prior year, while expenditures remain favorable relative to the forecast by roughly $347,662.64.
The report's cash-flow analysis explained large monthly fluctuations tied to property tax receipts and repeated that the district remains in planned deficit spending for the year but expects the year-end balance to exceed forecast by about $264,913. The board accepted the financial report and proceeded with approvals that included capital project contracting (the middle school roof award to Ramp Construction at $467,000), which the treasurer noted was nearly $100,000 under the projected construction budget.
The report attached detailed fund-by-fund cash-position tables and a check register for February 2025. The board directed staff to continue monitoring timing of tax receipts and to present budget options if projected shortfalls widen.
