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Ozark R‑VI board authorizes fund transfers up to DESE maximums
Summary
The Ozark R‑VI Board unanimously authorized transfers from operating to capital funds up to the maximums allowed by DESE, including a 7% WAM‑model transfer with a preliminary maximum cited at $2,850,000 and a transportation transfer of roughly $195,000; final amounts will be set after year‑end audit work.
The Ozark R‑VI Board of Education voted unanimously to authorize district staff to transfer funds from operating accounts to capital accounts up to the maximum amounts allowed by the Missouri Department of Elementary and Secondary Education (DESE).
Dr. Gray (speaker 7) explained that the authorization covers the district’s allowable 7% WAM‑model transfer — described in the discussion with a preliminary maximum calculation of $2,850,000 — and a transportation fund transfer cited around $195,000. Dr. Gray emphasized that approving the authorization does not mean the district will transfer the full amounts; final transfer levels will be determined in July after auditors close the fiscal year and staff balance the operating reserve to the board’s target.
Board members asked for clarification on how the preliminary maximums related to the district’s target operating reserve. Dr. Gray said the transfer is a ceiling set by DESE and the district will work with auditors to move only what maintains the desired operating reserve (the board discussed a target range of about 20–30% and an illustrative 25%).
The chair called the vote and the motion passed unanimously.
What comes next: district finance staff will complete year‑end closing with auditors in July and return with precise transfer amounts for accounting purposes and inclusion in the annual financial statements.
