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Board hears finance update; approves bus replacement financing and budget amendments
Summary
The Lee County Board of Education received a monthly finance update showing a remaining budget of roughly $32.1 million and approved a master replacement bus financing agreement for four buses totaling $626,364 plus related budget amendments and several maintenance and procurement items on the consent agenda.
The board received its April finance report showing a fiscal-year budget of $136,755,323.70, year-to-date expenditures of $99,000,007.84, encumbrances of $4,868,009.98 and a remaining budget of $32,102,026.06, representing 76.53% spent as of April, a finance staff member told the board.
Operations Committee chair Mister Momo reviewed multiple capital and maintenance items that appeared on the consent agenda, including an RFQ for a bus garage (six submissions), HVAC upgrades ($109,900), intercom upgrades ($427,665.64) and custodial floor waxing ($38,850). He also noted a request to purchase a new driver’s education vehicle for $26,037.64 and insurance renewals for general liability and automobile coverage with North…
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