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Board hears July financial report; special-education fund expected to run negative until tax collections
Summary
District finance staff told the board July statements show special-education, capital outlay and bond redemption funds in temporary negative positions but said tax collections due in October should restore balances. The board approved budget adjustments to cover recent invoices.
The McCook Central School District 43-7 board received the July financial report and heard that several funds are temporarily negative. The finance presenter said capital outlay, special education and bond redemption funds "are all in a negative" but said taxes coming in by October should return those funds to positive balances.
The presenter explained the special-education fund often runs negative early in the year because invoice timing and reimbursement processes delay extraordinary-cost reimbursements. She noted the district received $69,000 in utility tax revenue and $4,000 in capital for esports equipment orders. The board asked questions about an ACH timing issue with a debt-service withdrawal, and the presenter said the vendor processed a withdrawal earlier than the billed due date.
Board members pressed for clarity on recurring costs and custodial-account activity linked to athletics and camps. The presenter walked through purchases paid from sponsor funds—citing athletic-trainer equipment and an ultrasound unit—and described biannual safety inspections and kitchen-hood maintenance costs. The board did not reduce any scheduled maintenance but discussed warranty and rental options for dehumidifiers used during floor work.
The article is based on the district's July financial presentation to the board.
