School board reallocates $2.46 million in Fund 189 to purchase properties adjacent to McFadden School of Excellence

The Rutherford County Board of Education voted to reassign $2,458,962.44 from Fund 189 to purchase properties adjacent to McFadden School of Excellence and to fund future renovations. Board members approved the allocation after a brief presentation that described the change as a substitution for a previously approved request to use Fund 141 fund balance.

Board member Speaker 4 told the board the funding is currently assigned to the Church Street property and that county finance worked with the district to reassign the funds to McFadden‑adjacent property acquisitions. “This will replace the previously approved motion requesting the use of fund 141 fund balance for the above purchases,” Speaker 4 said. The chair called the motion and recorded an affirmative vote with no opposition.

Speaker 5 asked whether the funds are sufficient to purchase all five homes identified for acquisition; Speaker 4 confirmed the available Fund 189 balance is $2,458,962.44. Board discussion showed inconsistent references to the total purchase price in the minutes: speakers referenced amounts variously described as “a little bit over $1,000,000,” “between 13 and 14” and other figures. The board did not record a single definitive total purchase price for all five houses in the transcript. Speaker 4 agreed to provide an exact purchase‑price figure from the minutes at a later time.

The board noted that reassignment of Fund 189 requires county action because the district does not have direct access to run that fund; Speaker 4 thanked Michael Smith for helping arrange the reassignment with county finance. No additional conditions or amendments to the purchase authorization were recorded during the meeting.

Next steps: staff will finalize purchase documents and coordinate with county finance for the formal reassignment and acquisition process.