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School treasurer reviews investments and year-end budget transfers; board approves grant applications
Summary
CFO Kendra Franks reviewed investments, fiscal indicators and year-end balances; trustees approved permission to apply for Franklin County Community Foundation grants and authorized 2025 budget transfers to correct negative appropriations.
Kendra Franks, corporation business manager and chief financial officer, delivered the district’s investment and fiscal report for the 2024–25 period, highlighting account changes and the reasons behind them.
Franks told the board that bond-proceeds accounts declined as projects were paid off and that the district renewed a CD for $1,000,000 and earned nearly $35,000 in interest in 2025 on that CD. She said the district holds a Trust Indiana account with "a little over $7.5 million" earning about 3.78% interest, which is the highest yield among the corporation’s checking accounts. Franks also reviewed state-published fiscal indicators (Gateway), reporting student counts of approximately 1,915 for 2024–25 and noting a multi-year enrollment decline. Net assessed value was described in the meeting as just over $1,000,000,000.
Board members heard the year-end fund balances as of Dec. 31, 2025: Education Fund $6,448,616.15 (down from $7,239,224.34 a year earlier), Operations Fund $1,250,053.45 (up from prior year), and Rainy Day Fund $4,164,641.37 (down slightly). Interest earned year-to-date was reported at $498,170.43, lower than the prior year’s $677,646.33. Cafeteria and latchkey fund balances were also reported and discussed as holding steady.
Trustees approved permission to apply for 2026 Franklin County Community Foundation project grants (the foundation requires minutes showing board approval as part of application packets). The board also approved 2025 budget transfers to reallocate appropriations within the Education and Operations funds so no appropriations remained with negative balances.
These fiscal items were presented as informational or routine and carried votes when required; board members asked clarifying questions about latchkey supplies and outreach, and asked staff to coordinate potential community donation outreach for program needs. No policy changes or new taxes were proposed during the review.
