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Forest Hills board votes to close dormant scholarship accounts and transfer funds to Education Foundation of Forest Grove
Summary
The board approved closing roughly 15 long-dormant scholarship bank accounts and transferring the funds to the Education Foundation of Forest Grove so the foundation can invest and administer scholarships.
The Forest Hills School District Board of Directors on April 8 approved a motion to close a series of long-dormant scholarship bank accounts and transfer the balances to the Education Foundation of Forest Grove for future management and investment.
District finance staff presented the item as a response to repeated audit findings showing multiple inactive accounts. Director Kluge, director of finance and operations,…
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