Board accepts May general fund report, approves $12.6 million in warrants and authorizes committed fund balance

The Daviess County Board of Education accepted the treasurer’s report for May and approved payment of warrants totaling $12,615,976.27, including payroll and several fund warrants.

Treasurer’s figures presented in the board packet show a General Fund balance of $44,198,051.44 on May 1, 2025; receipts of $5,004,982.19; total available for expenditures of $49,203,033.63; expenditures of $2,400,593.61 for the month; and a General Fund balance of $46,802,440.02 on May 31, 2025. The Treasurer’s Report approval passed by motion (Order #162) moved by Mrs. Tammy Rice and seconded by Mr. Frank Riney with a 5–0 vote.

Warrants and payroll: The board approved warrants that list payroll of $3,498,652.18 and a warrant total of $12,615,976.27 (Order #164). The meeting minutes record the roll-call votes for the bills motion, which passed unanimously on a motion by Dr. Tom Payne and second by Mr. Trey Pippin.

Committed fund balance authorization: Under GASB 54 requirements, the board authorized any “Committed” fund balance reservations by June 30; the district stated SBDM Carryovers was the only fund balance meeting the “Committed” definition at this time (Order #170). The board approved the authorization by motion (mover Mr. Trey Pippin, seconder Mrs. Tammy Rice), 5–0.

Why it matters: Routine acceptance of monthly financial reports and approval of warrants are standard governance functions; the committed fund-balance authorization is an annual accounting control under GASB 54 that records and reserves funds for specific purposes.

No separate public comment or debate on the financial figures was recorded in the meeting minutes.