MSD Wabash County Schools board affirms finance structure, reviews investments and fiscal indicators

The MSD Wabash County Schools board voted to have the board of education serve as the board of finance and reviewed the district27s investments and fiscal indicators. Speaker 4 (unidentified finance presenter) described the district27s checking and savings accounts used for claims and payroll and said the district currently records earned interest to the operations fund but could redirect it to the education fund if desired. Speaker 4 noted the district contracted a 2% floor rate with First Farmers through August 2027 and said interest earned in 2025 exceeded 2024 by about $26,000.

The presenter reviewed required fiscal indicators used for the state27s distressed-unit process, reporting an average daily membership around 2,100 over the past three years and fund-balance ratios that indicate the district can cover several months of expenditures. He explained occasional negative cash-flow lines are caused by federal grant reimbursement timing (for example, Title I reimbursements) rather than ongoing operating shortfalls.

Board members discussed the district27s financial goals, including a target to maintain at least a three-month education fund balance and a rainy-day target of 10% of the education/operations budget. Several members suggested evaluating whether to move toward a six-month goal; the board agreed to continue the conversation rather than enact an immediate policy change. The board approved related routine motions (including the formal declaration of the board of finance) by voice vote.

The board did not take new fiscal action beyond accepting the report and returning the matter of changing fund-balance targets to future discussion.