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Board transfers referendum fund to operations and hears cash-balance update
Summary
Trustees approved a procedural transfer of the operating referendum tax levy fund (about $3.5 million) into the district operations fund and received an update showing a low cash balance and projected property tax receipts in June.
The Elkhart Community Schools Board of Trustees approved a resolution May 27 to transfer amounts held in the operating referendum tax levy fund into the district’s operations fund, a procedural consolidation the administration described as permissible under Indiana law.
Administrators said the operating referendum fund currently holds approximately $3.5 million and no longer has a revenue source…
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