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Board approves $1.039 million transfer to pay capital leases for FY2027
Summary
The board authorized transferring $1,039,037.34 from the Education Fund to the Debt Service Fund to cover capital-lease payments for FY2027; the motion passed unanimously.
Dr. Henry moved the funding transfer to ensure capital lease payments can be made in August: "I move that the Board of Education approve the transfer of $1,039,037.34 from the Education Fund to the Debt Service Fund for the purpose of capital lease payments for the fiscal year 2027," the motion stated.
The motion was seconded and the board voted without further comment; the chair announced the result as 7 ayes, 0 nays. Administration had previously identified capital-lease reductions and some outright purchases as a strategy to reduce interest expense over the next three years.
