Jennings County School Corporation elects officers, reviews investment report

At its annual finance meeting, the Jennings County School Corporation elected Amy Fedde president and approved Patty Sullivan as secretary and received a finance report on the district's deposits, bond investments and fund balances.

The board kept German American Bank and Jackson County Bank as the district's designated depositories, and finance staff reported that about $3,200,000 of the district's $3,500,000 2024 GEO bond proceeds are currently invested for long-term maintenance. The presenter said the district's investment policy (Policy 6144) will remain unchanged.

Finance staff also discussed routine housekeeping items: the cancellation of outstanding checks once they reach a two-year age (the oldest outstanding check was reported at about 15 months), a modest reduction in the education fund and a small increase in the operations fund, and an increase in local funds tied to 2023 bonding for the district's CTE project. Staff noted a slight surplus on page 4 of the financial packet, meaning revenues exceeded expenditures for the prior year, and a roughly four-point drop in fund balances as a percentage of expenditures; staff said the district remains within commonly used, informal benchmarks.

Board members were told federal funding decreased because the district has spent down ESSER III stimulus funds. No changes to Policy 6144 were recommended.

Nomination votes were held by voice. Patty Sullivan was nominated and approved for secretary; the board recorded seven votes in favor. The body then voted to adjourn the finance meeting on a motion moved by PAC and seconded by Earl; the motion carried with seven votes in favor.

The meeting record contained no formal motions to change depositories or to alter the investment policy, and the items reported were presented as annual routine matters rather than new policy proposals. The board adjourned after the finance report and the officer elections.