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School board approves permanent cash transfers; finance staff report $361,000 reverted to state for unspent grant funds
Summary
Central Consolidated Schools approved a permanent cash transfer form required by the Public Education Department; staff reported $361,000 in unspent Family Income Index grant money will revert to the state, prompting board discussion about oversight and year-round grant management.
The Central Consolidated Schools Board approved a permanent cash transfer form required by the New Mexico Public Education Department (PED) that moves funds between operating and grant accounts as part of year-end financial cleanup.
Dominic Cetaney, the district's director of finance, described the form and said one line item in particular would revert unspent money back to the state: "we are transferring $361,000 back to the state," he said, referring to a Family Income Index grant. Board members pressed staff on why so much money went unspent and on changes to prevent future reversion.
Why it matters: When grant funds are "use or lose" within the fiscal…
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