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Fredericktown Local board adopts agenda, reviews treasurer's report showing tax-advancement receipts and low insurance balance
Summary
The board approved the agenda and minutes, accepted donations, and heard Treasurer Heather report that February revenues exceeded expenditures due to property-tax advancements (about $2.2 million and $900,000); she warned the district's self-insurance fund is at a 10-year low and expects an 8'10% medical-cost increase next year.
The Fredericktown Local Board of Education opened its March 10 meeting by adopting the agenda and approving minutes from its Feb. 10 session by unanimous roll-call votes.
Treasurer Heather told the board that February revenues exceeded expenditures mainly because the district received large property-tax advance payments ' "we received a total of two, one for 2.2 million and another of 900,000," she said. She listed major recent expenditures, including carpeting, the first payment for the track-and-field project to DNK Hathaway and the final payment for the bus garage, and said the district purchased a new mower for about $12,000.
Heather warned the board the self-insurance fund balance is the lowest it has been in the past 10 years and said she expects an 8'10% increase in medical costs next year, which she plans to present to the board for approval at the next meeting. She also reported two small grants: a Knox County Chamber of Safety grant for $2,500 and an additional $774 in the K12 network subsidy this year.
The board accepted several community donations, including a used eye-gaze device valued at about $16,000 for special-education speech services and various classroom and PTO contributions for field trips and activities. A motion to accept the treasurer's consent agenda passed on a roll call of the members present.
Next steps: Heather said she will bring the projected medical-cost increase to the board next month for formal action and finalized figures for the tax-advance true-up when available.
