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Board approves claims totaling $7.45 million, moves $1 million to rainy day fund and authorizes monthly education-to-operations transfers
Summary
The board approved payrolls and claims totaling $7,449,950.29 for the period, authorized a $1,000,000 transfer from operations to the rainy day fund (raising it to $4.5 million), and approved a resolution authorizing up to $409,000 monthly transfers from the education fund to operations for calendar year 2026.
The Lebanon Community School Corporation on Aug. 19 approved payrolls and claims, authorized transfers to the rainy day fund and approved a standing resolution to transfer funds from the education fund to operations for calendar year 2026.
Assistant Superintendent for Business and Operations Mr. Dennis asked the board to approve three payrolls (including payrolls dated 07/18 and 08/15) totaling $2,152,151.88 and claims for the period that included construction payments, bringing the claims total to $5,297,798.41 and the combined total to $7,449,950.29. Mr. Dennis explained that construction payments made this month increased the appearance of claims and that some payments drew on remaining school corporation dollars associated with lease/real-estate transactions; he characterized the payments as expected and part of the standard construction payment cycle. The board approved the payrolls and claims by voice vote.
The board also passed a resolution to transfer $1,000,000 of cash from the operations fund to the rainy day fund. Mr. Dennis said $751,000 of that transfer represents proceeds from the sale of the transportation department property and the remaining $250,000 is accumulated operations cash; the transfer raises the rainy day fund balance from $3.5 million to $4.5 million. The resolution requires board action for any movement in or out of the rainy day fund.
Additionally, the board approved a resolution authorizing the district to transfer up to 15% (and specifically authorizing up to $409,000 monthly) from the education fund to the operations fund for calendar year 2026. Mr. Dennis said the board is unlikely to use the full statutory limit but seeks standing authorization to execute monthly transfers within the posted limit.
Other consent items approved by voice vote included a banking service agreement to house employees’ HSA accounts and routine change orders. The board also approved the lease extension with Blue Door Capital to continue district special-education staff office space until Central Elementary renovation is complete.
