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School division moves to continue OPEB/OPA contributions; staff recommends up to $350,000 allocation and FY25 obligations be paid
Summary
Staff reported the division's OPA plan liability and recommended continuing contributions to avoid liability, asking the board to allocate up to $350,000 to the OPM trust fund from FY25 year‑end funds; staff also recommended recording and paying approximately $41.19 million in payroll and obligations from FY25 funds.
A staff presenter told the board that Henry County Public Schools has maintained an Other Postemployment Benefits/OPA plan since 2009 and that the plan's required liability is $4,179,575. Contributions to the OPA plan varied over time and there were periods with no contributions; contributions resumed in fiscal 2023.
"It has been determined that our contribution to the OPM trust fund should be continued to avoid liability," the presenter said. Staff recommended allocating an amount not to exceed $350,000 to the Henry County School Division OPM plan, to be drawn from FY25 year-end funds pending availability; distribution was described as July 31 if funds are available.
The presenter also outlined accounting steps for FY25-end obligations, explaining that invoices and salaries paid in July and August will be recorded to the prior fiscal year for accounting purposes and that anticipated obligations totaling $41,194,348 (payroll and other obligations) are recommended to be paid from FY25 funds. Vendors with invoices of $15,000 or more were listed in the attached materials (the board packet).
Board members moved and the board approved the recommended accounting treatment and payments for FY25 obligations; the motion carried by voice/hand vote. The transcript shows a motion by Mister Hardy and an affirmative vote count recorded for the meeting.
Staff did not provide detailed line-item lists on the floor beyond the packet; board members asked no substantive questions during the verbal presentation at the meeting.
