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Treasurer reports subsidies and transfers as board approves bills-paid and treasurer reports
Summary
Treasurer McKinney presented the bills-paid report and treasurer's report noting a $481,810 special education subsidy, $48,000 in federal grants and a temporary transfer of 9,000,000 pending tax receipts; the board approved the reports (Bills Paid and Treasurer's Report) and later approved the year-to-date budget-to-actual report (8 yes, 1 no).
Treasurer McKinney reviewed the fiscal opening for July, noting July 1 begins the new fiscal year. McKinney reported a special education subsidy of $481,810 received in July and $48,000 in federal grants. He also reported a temporary transfer of 9,000,000 from an internal fund (described as a routine early-year transaction while tax revenues arrive) and explained that many fiscal-year entries are still being accrued.
Board members asked questions about bills paid; McKinney recommended approval of the Bills Paid report and the Treasurer's Report, both of which were adopted by roll-call vote. The year-to-date budget-to-actual report was approved by a vote of 8 yes and 1 no, with Director Connolly recorded as the lone no vote. McKinney said final overage numbers would not be determined until November or December after accruals are posted.
