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Treasurer reports investments and grants; board agrees to start FY26 budget amendment process
Summary
Treasurer Joe reported a corrected $166.79 bank error, an extra $350,000 invested to improve rates and grant balances (IDEA $383,866), and the board voted to initiate the FY26 budget amendment process for transparency and reconciliation.
Treasurer Joe presented the monthly financial report, reconciling January cash and investments and explaining a corrected bank error of $166.79 that Solutions Bank fixed on Feb. 3. "They cleared a check in the amount of a $166.79 from our checking account," Joe said, and explained the item was also deposited to an extracurricular account and subsequently corrected.
Joe told the board the district had been able to invest an extra $350,000 beyond projected cash-flow investments to secure better rates while keeping maturities under 12 months and noted roughly $600,000 was available to invest. He reviewed grant positions, citing IDEA (Individuals with Disabilities Education Act) allocations of $383,866 and Title I carryover limits, and recommended initiating an FY26 budget amendment; the board approved a motion to begin the budget-amendment process by roll call.
Board members also heard timing for the bus RFP (public opening at 10:30 a.m. Thursday) and discussion of non-capitalized equipment budgets vs. supplies. The superintendent and business services committee will continue to work through detailed amendment schedules and bring recommendations back to committee.
