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Princeton board approves August financial report, builder's risk insurance and DLA memorandum
Summary
The board approved the August 2025 financial report, accepted a builder’s risk insurance proposal funded from the construction fund, and authorized a memorandum of agreement with the Department of Defense to pilot a surplus computing-supplies program.
The Princeton City School District board approved several finance and operations items during the meeting, including the August 2025 financial report, a builder’s risk insurance proposal, and a memorandum of agreement (MOA) with the U.S. Department of Defense’s Defense Logistics Agency (DLA) to pilot receipt of surplus computing equipment.
The treasurer reviewed the August financial report, noting standard inclusions: bank reconciliations, investment statements from Star Ohio and Red Tree, credit-card rebate reporting, and tracking of program funds. The transcript records that the district established two funds at the end of the prior fiscal year — the 003 permanent improvement fund and the 007 capital fund — each with $4,000,000 and initial purchase orders written for textbooks, technology and roofing repairs. Forecast work to update cash-flow projections was scheduled with a target of Oct. 15.
On construction insurance, a motion approved builder’s risk insurance to be paid from the construction project fund. The treasurer said this coverage is included in the construction project cost and described the policy as a one-year plan; the transcript records the presented insurance cost as "$13.07" (as stated at the meeting). The board accepted that the cost will be added to project expenses.
The board also approved a memorandum of agreement to pilot the Department of Defense/Defense Logistics Agency surplus equipment program, which the district said could provide computing equipment at little or no cost (the district would likely be responsible for shipping or pickup). Legal review provided in the discussion indicated no barrier to pilot participation. The board approved the item by motion and roll-call vote.
Board members were reminded that forecast and appropriation actions are time-sensitive and that multi-county tax settlements affect cash-flow timing; Hamilton County provides the largest share of tax advances for the district.
