CFO projects sales‑tax receipts with two‑month lag; charter payouts occur when receipts posted

The committee received an updated Marion County Public Schools capital sales‑tax schedule and a projection for the fiscal year from Chief Financial Officer Robert Rios Wells.

Rios Wells directed members to the packet and said the original program total is listed as $39,600,000. He explained the schedule shows actual receipts for July and August and projected amounts for September through June, noting that comparing fiscal‑year and calendar‑year figures complicates the picture. He stated that receipts are typically posted on a two‑month lag and that a quarterly additional payment is received at the end of each quarter; the projections therefore estimate monthly inflows rather than guarantee exact receipts.

When a board member asked why charter school payouts appeared low relative to budgeted allocations (the packet lists $860,000 for charters), the budget director (identified in the record and speaking at the meeting) explained the district pays charter schools only when it actually receives sales‑tax receipts. Because receipts are recorded two months after the sales month, payments to charters follow that timing, which can make the distribution look delayed in the month‑by‑month schedule.

Committee members asked about investments and fund handling. The budget director explained district cash is pooled for investment and allocated proportionally by fund; the district’s vendor for investments is PFM Asset Management, and staff said they would post additional information about the investment profile if the committee wants more detail.

Rios Wells said the office will continue to provide the sales‑tax schedule and projections at regular meetings and will update members as actual receipts arrive and as projects create expenditure demands.