Alexander County Schools board approves budget amendments for bus lease purchase, Stoney Point air conditioning

The Alexander County Schools Board of Education on March 10 voted unanimously to approve two budget amendments that add funds for classroom teachers and authorize a state capital outlay lease purchase for replacement school buses and an air-conditioning project at Stoney Point Elementary School.

Finance officer Sharon Mahaffey told the board the district remains on track financially: "67% of the year is complete and we have used 64% of the budget," she said. Mahaffey described how the state lease-purchase for buses is recorded: "When we get a new school bus, the school system pays for the first bus. . . The state pays the lease on those buses. And then we record that lease payment in our books, which is really interesting because no money ever changes hands, but it gets recorded on our books."

The board approved Budget Amendment No. 7, which adds funds for classroom teachers, and Budget Amendment No. 8, a state capital outlay amendment that covers the lease purchase of replacement buses and adds the Stoney Point Elementary School air-conditioning project. Board member Oxentine moved to approve the amendments; Vice Chairman Degenhardt seconded the motion. The motion carried unanimously, with the board chair calling for the ayes and saying the motion "carries unanimously."

Mahaffey briefly explained the lease-purchase accounting treatment so that board members understand that the state later records and pays the lease; the district only records the transactions in its books. The board did not request additional conditions or hold separate discussion before the vote.

The approved amendments will be reflected in the district's budget records; no additional funding sources or dollar totals for each amendment were specified in the meeting record.