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Snake River Board approves 10-year modernization plan to spend $6.8 million in capital funding
Summary
Trustees approved a required 10-year school modernization plan outlining how the district will use $6.8 million in state-authorized capital funds; the plan emphasizes documentation because funds are tax-exempt bond proceeds subject to IRS audits.
The Snake River School Board approved a 10-year school modernization facilities funding plan at its Nov. 20 meeting that outlines how the district intends to spend $6.8 million in capital funding over the next decade.
Trustees reviewed the plan, which the board must submit to the Idaho State Department of Education to access funds tied to last year’s legislative package. Board members were told the funding derives from tax-exempt bond proceeds and that expenditures must be documented thoroughly because the funds are subject to IRS audits at the district level; failure to document capital use could trigger repayment obligations.
Chairman Josh Sorensen and Superintendent Mark Kress indicated the funding is restricted to capital projects and the board reviewed prioritization for local projects. Trustee Lon Harrington and others voted to approve the plan; the motion carried unanimously.
The board’s approval moves the plan forward for submission to the State Department of Education; staff were reminded to maintain documentation and follow bidding and procurement requirements for capital projects funded with the bond proceeds.
