Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Budget topic
No spam. Unsubscribe anytime.
MSD Wabash County board reviews finances, approves 2025 budget resolutions and transfers
Summary
Board business included a board-of-finance review showing roughly $1.5 million in interest earned in 2024, presentation of fiscal indicators, and approval of multiple budget and transfer resolutions for 2025 including a transfer cap and authorizations to pay claims.
At its board of finance session and regular meeting, the MSD Wabash County Schools board reviewed 2024 investment earnings and fiscal indicators and approved several budget and cash-flow resolutions for 2025.
Business staff reported that interest earned on district cash balances in 2024 totaled just over $1,500,000, with account rates during the year ranging from about 4.48% to 5.35%. The business office also presented the Department of Local Government Finance (DLGF) fiscal indicators (which, by rule, reflect data through the end of 2023) and an internal fiscal dashboard showing fund balances, revenue sources and the district’s long-range debt and facilities planning.
After the financial review the board approved a package of motions needed to operate through 2025: final approval of the 2025 budget (a budget reduction resolution tied to DLGF feedback was approved), a local income tax distribution resolution (directing county LIT receipts to the operations fund), and a resolution setting transfers from the education fund to the operations fund (the resolution authorized transfers consistent with the district’s plan and to remain under the statutory transfer limit). The recorded language in the meeting states the transfer authorization amount for the year has “not changed” and references an amount of $215,000 (the board noted historical monthly transfer amounts for context in discussion).
The board also approved an annual resolution authorizing the treasurer to pay claims between meetings when necessary, and the board approved a cooperative purchasing special-exception price to replace student lockers at Northfield and Southwood high schools (project cost exceeded the $300,000 cooperative threshold so the cooperative exception was used). The locker replacement is planned for installation in the summer; the board confirmed locker sizes will be slightly reduced and that students will provide locks.
Other formal approvals during the meeting included: adoption of a 2025 HEA 103 flexibility waiver (a waiver of provisions in Indiana Code so the district can operate a calendar with four professional development days and meet minute requirements), and acceptance of an early literacy achievement grant resolution authorizing payment to staff for the program. The board approved an overnight sixth-grade field trip to Silver Lake, Indiana, May 14–16, 2025, and several routine donations.
All motions recorded in the transcript passed on voice votes with no recorded opposition. The business office will post the detailed budget documents and spreadsheets on the district website, as noted in the meeting.
