School Management Services

Financial Services 

Cash Flow Management
  • Cash Flow Projections
  • Cash Flow Planning
  • Investment Recommendations
  • Schedule of Cash & Investments
  • Pledged Collateral Compliance
  • Treasurer's Report
  • Aid/Tax Anticipation Borrowing
Cash Flow Projections – SMS will provide the district with annual cash flow projections, periodically updated for unanticipated events.  SMS will seek quotes on investments, according to district policy, to multiple brokers, banks, etc. to receive the most competitive rate of return available.

Schedule of Investments – SMS will provide the School Board with a schedule of investments periodically, according to the desires of the Board.  The schedule of investments will include type of investment, principal amount invested, term of investment, rate of return, and anticipated interest earnings.

Treasurer’s Report – SMS will provide the School Board with a monthly Treasurer’s report which will serve as a summary of cash transactions for reporting period.  The Treasurer’s report will also serve as a reconciliation of cash between the bank and general ledger.

Aid/Tax Anticipation -  Depending upon the current financial state of the district, the district may have a need to borrow funds in order to ensure adequate resources are available to meet current obligations.   Due to the State of Minnesota’s practice of holding back approximately 20% of a school districts current year revenue’s, a district may need to borrow, even in financially healthy times.  SMS will assist in determining the amount of borrowing needed and properly invest funds prior to use in order to minimize the cost of borrowing.

Pledged Collateral Compliance – It is necessary to have securities pledged equal to 110% of the cash exceeding $100,000 on deposit at a local banking institution.  SMS will ensure the District is in compliance with this Statute.