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Silver Creek board cites clean audit, approves application for 1% Chromebook loan
Summary
After receiving an unmodified audit opinion and discussing energy and budget strategies, the Silver Creek School Corporation board unanimously approved applying for a 1% state common school loan to help fund Chromebook replacements (estimated eligibility about $312,000).
The Silver Creek School Corporation board on March 12 received a financial update showing an "unmodified opinion" on the district audit and unanimously approved applying for a low‑interest common school loan to help replace Chromebooks.
Dr. Bowman, who delivered the financial and operational update, told the board the district "did get an unmodified opinion," noting the audit showed improvement from prior years with four findings compared with 10 in an earlier review. She said the district's participation in the East Central Educational Service Center natural‑gas purchasing program shielded the corporation from recent price spikes.
Board members asked several clarifying questions about the common school loan program after Dr. Bowman described how the loan is used. "At a 1% rate, it's very advantageous," she said, explaining the state program allows districts to borrow $100 per student. Based on Silver Creek's spring count she said that would make the district eligible for roughly $312,000 per loan; the district typically uses these loans on a five‑year repayment schedule to cover Chromebook replacement cycles. Dr. Bowman said the loan typically covers about "three‑quarters" of the Chromebook costs, with the remainder paid from curricular funds.
Miss McDaniel moved to apply for the common school loan; the motion was seconded and carried unanimously (5-0). The application authorization means the administration will pursue the loan under the state program rules and bring any required final documents back to the board as needed.
The board was told a more detailed first‑quarter financial presentation will follow at the second April meeting, and the district's routine ECA audit was still in progress at the time of the briefing.
