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Mineola board approves wage agreements, $10 million TANS and reserve transfers; appoints assistant principal
Summary
At its June 18 meeting the Mineola Union Free School District Board of Education approved a series of wage and benefits contracts, authorized up to $10 million in tax anticipation notes, set caps for three reserve transfers and confirmed an assistant principal appointment; all motions passed by voice vote.
The Mineola Union Free School District Board of Education on June 18 unanimously approved employment contract updates, short-term borrowing and reserve funding authorizations and appointed a new assistant principal.
The board passed multiple consent and financial resolutions, including a wage-and-benefits agreement to be executed by the board president and a renewal of central office contracts. The board also authorized issuance of tax anticipation notes (TANs) of up to $10,000,000 to cover cash flow needs while the district awaits collection of property taxes for the 2025–26 fiscal year.
Why it matters: the TANs allow the district to make payroll and meet obligations before tax revenues are collected; the reserve-authority votes authorize maximum transfers to designated reserve accounts if year-end funds are available after the audit.
The vote package included approvals to set caps (not mandatory transfers) of up to $500,000 each for the employee benefits accrued liability reserve and the…
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