February 7, 2005
During the 2004 debates, specifically at one taped in Easton for Raynham, I referenced a line item in the B-R School Budget for $40,000 in investment income. I stated that in order for that much money to be made in interest, an average daily balance in excess of $3M would be needed. My question about how much cash the B-R School District actually had on a daily basis, has now become part of the folklore for B-R.
After repeated requests, dating back to my taking office in May 2004, I finally received copies of the month-end Closing Entries Trial Balance reports. Nine months waiting for reports - imagine how long the wait would have been if I was not on the B-R School Committee!
The following is the reported Cash position for each month-end. Keep in mind, this is not free cash, and may very well be accounted for elsewhere with anticipated expenses. Note that I also requested statements of Cash Flows - reports that would document the moves of Cash - but have not ever received any of these reports. (Actual pages of reports available for your own review - Summary Page One and Summary Page Two).
Jun 2003 $ 1,907,622.30
Jul 2003 $ 3,404,822.56
Aug 2003 $ 3,061,738.77
Sep 2003 $ 7,332,105.44
Oct 2003 $ 6,241,786.77
Nov 2003 $ 5,319,815.66
Dec 2003 $ 8,741,147.81
Jan 2004 $15,125,469.20
Feb 2004 $14,441,691.10
Mar 2004 $15,720,408.85
Apr 2004 $12,991,109.24
May 2004 $11,653,388.27
Jun 2004 $ 7,658,720.40
So, to all who have continued to ask me about my questioning the amount of cash at $3M - last spring it was at a level considerably higher than $3M. The next issue will be to determine WHY a $45M school system would be carrying that amount of cash. Hopefully, before my next election in April 2007, I will have backup information to substantiate those large amounts of money.
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Joseph Gillis Jr.
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