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Board supports returning Southern Plains co-op fund balance to member districts
Summary
Fairmont board members urged the Southern Plains Education Cooperative to return a portion of its multi-million-dollar fund balance to member districts and recommended a proportional formula tied to five-year usage; the co-op will vote in April or May.
Board members reported on a Southern Plains Education Cooperative work session and said the co-op holds “several million dollars” in fund balance. At the March 24 meeting, Fairmont representatives said their recommendation is to redistribute part of that fund balance back to the cooperative’s five member districts using a proportional formula based on five-year usage, while leaving reserves above audited-recommendation levels to cover capital and long-term maintenance needs.
Members emphasized the need for careful analysis before releasing funds—citing recent facility and long-term maintenance reviews—and said redistribution should not undermine necessary reserves for districts that own and operate facilities. The cooperative is expected to make a final determination at its April or May meeting.
Fairmont members said their position favors returning excess funds to member districts rather than letting a cooperative retain an outsized balance relative to operational needs; they framed the discussion as balancing prudence with fairness across districts.
