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Finance report: education fund balance, transfers approved and $7.1M debt noted
Summary
Board heard a financial presentation showing fund balances, approved authorizations to transfer up to $1.3M to operations and up to $50,000 to the Rainy Day Fund, and heard the district's total debt reported at approximately $7.115 million.
During the Jan. 6 meeting finance staff reviewed fund balances, revenue and forecast data. The transcript reports the education fund ending balance for 2024 as approximately $2,000,009 (the recording contains extraneous characters around that figure), and projected state tuition support for 2025–26 at about $9,028,000 (estimate). The board approved a resolution authorizing the treasurer to transfer funds from the education fund to the operations fund not to exceed $1,300,000 or 15% of the education fund balance; members approved the motion by voice vote.
The board also approved a transfer into the Rainy Day Fund not to exceed $50,000. Finance staff described fund trends across education, operations, debt service and referendum funds; they noted several bond maturities in 2026 and 2028. "As to the total corporation debt as of December 31, it's 7,115,000," the presenter said during the report. Interest costs were reported in the transcript as $844,008.58, and interest income for the year was reported at $218,005.24.
Trustees asked clarifying questions about trending revenue and ADM projections; the presentation concluded with routine discussion and no additional action beyond the approved transfers.
