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Treasurer reports $24.4M cash, investment yields and typical year-end timing differences
Summary
The district closed May with a cash balance reported at $24,400,000, 151 days of cash on hand; the treasurer presented an investment dashboard showing a 4.16% yield in the custodial account and discussed timing differences in property-tax receipts.
Treasurer Craig presented the May financial report and an investment dashboard to the board on June 24, reporting the district's month-end liquidity and fiscal-year comparisons.
"We finished with the cash balance in the month for 24,400,000," Craig said, and he reported 151 days of cash, $786,000 brought in during the month and $4,500,000 spent. He explained that the timing of property-tax allocations (received in April this year vs. May last year) produced a $2.1 million month-over-month difference and walked trustees through revenue and expenditure variances and the financial forecast.
Craig also showed an investment dashboard: the custodial account yield was 4.16% with a weighted average maturity of 2.43 years; the construction account was earning about 3.72% with a shorter maturity. The board discussed the forecast cadence and noted the district will publish an updated forecast in August as required by the state.
