Since everyone is always asking (and joking) about the $3M I questioned... September 14, 2004

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Joseph Gillis Jr

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September 14, Since everyone wants to know about the $3M.... I have only been provided with one Balance Sheet for the School District - dated April 30, 2004.  Skipping past the fact that there have been - one would hope - four additional month-end closes done since then, the report shows that I may have been wrong in my estimation of Cash.  There is considerably more in available Assets than $3 million!! I asked the question at a debate in the spring about the source of "Investment Income", trying to ascertain the amount of Cash the District holds.  Clearly, this report shows that Cash PLUS Investments was more than $4.8M on April 30th. "Cash" will change daily, and that is why I also requested months ago a Monthly Statement of Cash Flows.  That report would show Income and Expenses on a monthly basis, and could serve as the basis for determining what is the needed Cash & Investments that should be on-hand at any time. Interesting how we are broke, but have $100,000 in Investments! {Please click here to download a .pdf version of this page}

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