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U‑46 board approves transfer of working‑cash interest to capital projects fund
Summary
The Elgin Area School District U‑46 board adopted a resolution to transfer interest earnings from the district's working cash fund to its capital projects fund; the transcript does not list a dollar amount.
The Elgin Area School District U‑46 Board of Education on June 9 adopted a resolution authorizing the transfer of interest earnings from the district’s working cash fund to its capital projects fund.
Dr. Anne Williams, deputy superintendent of operations, introduced the resolution and was joined by Dr. Frank Williams, assistant superintendent of finance, to present and answer board questions. Administration recommended the board adopt the resolution authorizing the transfer.
Nut graf: The board’s action moves accrued interest from a short‑term working cash account into the capital projects fund, a common step districts take to align interest earnings with long‑term capital expenditures. The transcript does not include a dollar amount for the transfer.
A board member moved to approve the resolution; the transcript records a roll call with five board members recorded as voting yes: Miss Kirk, Miss Martin, Miss Nolan, Miss Short and Miss Thomas. The board advanced after the vote and then moved to adjourn.
Ending: The administration’s recommendation was adopted; no implementation timeline or dollar amount for the transfer was provided in the transcript. Dr. Frank Williams presented alongside operations staff and the board recorded its vote during the June 9 meeting.
