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District reports $6.73 million education balance, operations drop tied to bond reimbursement transfer
Summary
The Franklin County Community School Corp. reported June 30 balances: $6,729,846.58 in the education fund, $2,159,876.70 in operations and $4,164,641.37 in the rainy day fund. Board members discussed the drop in operations funds and the district’s teacher-salary benchmark under state statute.
Franklin County Community School Corp. financial staff reported the district’s fund balances as of June 30 and explained year-over-year changes, including a transfer tied to a bond reimbursement.
Kendra, representing the business office, said the education fund balance was $6,729,846.58 as of June 30, up from $5,898,368.38 a year earlier. The operations fund balance was $2,159,876.70, a decline from $5,276,346.10 the previous year. The rainy day fund balance was $4,164,641.37, up from $1,068,712.84. Investment interest earned year to date was $228,764.71, compared with $311,552.75 a year earlier.
Kendra told the board the principal reason the operations…
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