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Board reviews investment report, fund balances and banking designations; investment policy unchanged
Summary
Board members reviewed the 2025 investment report and 2024 financial indicators: about $436,000 in interest income was reported, two six-month CDs held for May–June cash needs, and capital funds rose roughly $3,000,000 from the 2024 bond. The board confirmed current bank relationships and recommended no changes to investment policy.
The Jennings County School Corporation Board of Finance reviewed its 2025 investment report and the corporation's 2024 financial indicators during the annual meeting.
A presenter summarized the investment strategy and recent transactions: the corporation purchased short-term certificates of deposit to capture higher rates, and a CD bought in late December will support an HVAC project at Brush Creek (and a portion of Scipio). The presenter reported "right at $436,000 in interest income for the year for the 2025 year" and said the board currently holds two six-month CDs timed to cover bills expected in May–June.
On banking relationships, the presenter stated the district is using German American for operating checking and Jackson County Bank for operating savings and said staff will review rates this summer to determine any future recommendations.
The board reviewed Policy 61 44 (the investment policy) and the presenter recommended no changes; the chair confirmed no vote was needed because no changes were proposed. On outstanding checks, the presenter reported there are no checks older than two years (the policy threshold)—the oldest check in the system was dated Oct. 28, 2025—so no cancellations were required.
Speaker 3 also reviewed the 2024 financial indicators: a roughly $58,000,000 increase in net asset base (about 5.2%), a 2% decline in average daily membership (ADM), approximately a $1,000,000 drop in education fund balance, about a $650,000 increase in operations, and an approximately $3,000,000 increase in capital funds attributed to the 2024 bond issuance. The presenter said the deficit-versus-surplus chart showed a slight increase between revenue and expenses but emphasized these figures reflect 2024 data (the reports are a year behind).
There were no recorded formal votes tied to changes in investment policy, bank designations or cancellations of checks during the meeting. The board adjourned later by a recorded 7-0 vote.
