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South Vermillion board approves $300,000 quarterly transfer as enrollment dips
Summary
The South Vermillion board approved a $300,000 transfer from the education fund to the operations fund and reviewed a first-quarter financial report that shows an education fund balance of $2.23 million and a modest enrollment decline to 1,429 students.
The South Vermillion Com Sch Corp board unanimously approved a quarterly transfer of $300,000 from the district’s education fund to its operations fund at its April 2026 meeting. Dr. Williams told the board the transfer is within the district’s allowable annual transfer limits and is intended to cover operating needs ahead of tax receipts later in the fiscal year.
Dr. Williams presented the district’s first-quarter financial report, saying the education fund balance stood at $2,225,867.61 at the end of March and that the operations fund showed a negative balance that is expected to correct once taxes arrive. He also reported a rain-day fund balance of $347,948.19 and the remaining balance on the 2025 first mortgage bond of $135,324.98.
The superintendent reported the district’s student count as of March 31 was 1,429, which he described as part of a longer-term decline (a reduction of 368 students since 2012) and noted recent year-to-year enrollment movement. He attributed the more recent decreases in part to online schooling and demographic shifts in the community.
Board members moved and seconded the transfer resolution and approved it by voice vote. No individual vote tallies were recorded in the public transcript of the meeting.
Other routine financial items approved at the meeting included vouchers 113670–113835 and acceptance of food-service bids procured through the K12 cooperative for the coming year. The board also approved a set of field trips and several personnel compensation items during the same meeting.
The district will finalize budget details when property-tax receipts arrive later in the fiscal year; the board did not vote on any tax-rate or bond measures at this meeting.
