Canyon ISD reports $55M cash position, reconciled accounts and prior budget amendment fixes

Canyon ISD finance staff presented the monthly financial report Sept. 8, telling trustees the district had approximately $30 million in depository cash plus investments that, combined, produced roughly $55 million in total cash and investments as of the July reconciliation.

Chief financial presenter Leila summarized that year‑to‑date interest income totaled about $2.6 million. The general fund showed local revenue at roughly 92% of budget and state revenue at 96.7% for the reporting period; federal revenues reflected continuing declines tied to an earlier program. Staff also reminded trustees that they had approved a “hefty” budget amendment in August which corrected negative balances in several functions (functions 13, 20, 31 and 33 were cited) and that, after reconciliations, revenues received and expenditures expended were close to each other.

Leila noted tax collection for fiscal 24‑25 was at about 99.33% of the current roll, with 4.5% of the delinquent roll collected since the prior month. Staff also described smaller items such as debt‑service fees to Hilltop Securities and rollover grant funds from Title I/II/IV that will be carried into the new fiscal year and that some federal grant funds are typically not available for spending until mid‑year.

Trustees voted unanimously to approve the monthly financials as presented.

Why it matters: The report reassured trustees that accounts had been reconciled and that prior negative function balances had been remedied via a budget amendment. The cash and investment figures and tax‑collection rates provide current fiscal context for district operations.

Next steps: Staff will continue monthly reconciliations and prepare the August fiscal packet for the next board meeting; trustees approved the monthly report.