Acton-Boxborough Regional School District Notes to Basic Financial Statements Year Ended June 30, 2024
and certificates of deposit (up to three-year maturities from date of purchase), the District’s policy allows deposits up to the insurance coverage limit. The District’s policy limits unsecured deposits to no more than 5% of an institution's assets and no more than 25% of the District’s cash may be comprised of unsecured bank deposits. This percentage may be increased for no more than 30 days during times of heavy collection or in anticipation of large payments that will be made by the District in the near future. Their credit worthiness will be tracked by Veribanc, or other bank credit worthiness reporting systems. They will be diversified as much as possible. Certificates of deposit will be purchased for no more than one year and will be reviewed frequently. At year-end, the carrying amount of the District’s deposits totaled $7,496,796 and the bank balance totaled $9,129,110. Of the bank balance, $3,705,785 was covered by Federal Depository Insurance, and $5,423,325 was uncollateralized.
Investments
As of June 30, 2024, the District had the following investments:
Maturities
Investment Type
Fair value
Under 1 Year
1-5 Years
6-10 Years
Over 10 Years
Debt securities: U.S. treasury bonds…………………$ Government sponsored enterprises… Corporate bonds.............................. Bond mutual funds…………………
57,464$
19,124$
38,340$
- $
- - -
18,818 89,408
4,899
13,919 89,408 255,188
- -
- -
2,130,990
1,687,163
188,639
2,296,680 $
24,023$
396,855$ 1,687,163 $
188,639
Total debt securities.........................
Other investments: Equity mutual funds……………… Money market mutual funds……… MMDT - Cash portfolio……………
6,756,462
53,376
4,970,135
Total investments.............................$ 14,076,653
36
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