Poteet ISD reports stable food-service and debt-service funds; board may pay down debt

District staff gave trustees an overview of the food-service and debt-service funds and the purposes for projected balances.

"Projected revenue is 1,800,000," the presenter said, adding that roughly 96% of the food-service revenue comes from federal meal reimbursements and the remainder from a la carte sales and catering. Staff reported food-service expenditures near $1,878,000 and a projected year-end balance of about $501,000 (approximately 3.2 months of operating expenditures). Staff said the food-service fund typically carries less than six months of operating reserves and is often used for one-time purchases such as furniture or vans.

On debt service, staff said the fund receives roughly 83% of revenue from local tax collections and 17% from the state, projected year-end debt-service fund balance of about $1.4 million up from $1.2 million, and noted the district could "potentially pay down some of the debt" when the financial adviser recommends doing so. The board took the presentation as information and proceeded with subsequent agenda actions.