Treasurer reviews finances, tax-rate history and grants; board reduces bond millage by 0.24 mills in recent years

The district’s treasurer presented the financial spotlight during the March 20 board meeting, reviewing cash balances, grant management and the tax-rate resolution process.

Key figures presented: an ending general-fund cash balance of about $19,500,000 for January and an ending cash balance for all funds of just over $27,000,000. The treasurer explained that as bonds are paid off the district reduces bond millage and noted a recent reduction of about 0.24 mills; since the tax levy passage, the district has reduced millage by about 0.77 mills, she said.

The treasurer outlined how the district handles grants (federal, state and local), described CCIP reporting for federal grants and explained differences between reimbursement and upfront funding. She highlighted $1.3 million spent on HVAC improvements and said the district has used more than $3.2 million in federal and state grant funding over the last two-and-a-half years to offset district expenses.

Board members asked about year-to-year fluctuations in grant spending categories such as buses, HVAC and instructional equipment; the treasurer explained that timing, carryover rules and differing encumbrance and spending periods cause annual variations. The treasurer also introduced item 7.02 (hiring an assistant treasurer/finance supervisor) and asked trustees to approve the hiring and the financial reports.