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Putnam school board orders review after officials say tax collector kept large share of bond commission
Summary
After a district financial review showed the county tax collector retained the bulk of commissions on school bond collections, the Putnam County School Board unanimously directed the superintendent and the board attorney to investigate options, including possible legal remedies.
The Putnam County School Board on May 12 voted unanimously to authorize the superintendent and the board attorney to investigate commissions the county tax collector retained from the district's bond issuances, after the district's chief financial officer presented figures showing a substantial portion of bond‑related fees did not return to the district.
The board acted after Jonathan Odom, the district chief financial officer, walked trustees through reconciliations from bond issuances and said that of the $127,728 collected from the district’s first $100 million bond issuance the tax collector retained roughly 76.62 percent and the district received $29,688.86 back under the statutory distribution formula. “Of that $127,000 they collected from us,…
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