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Medford school board approves transfers to OPEB and capital projects fund
Summary
The Medford Area Public School District Board approved finance committee motions to transfer funds to the district’s OPEB trust and to Fund 46 (Capital Project Fund), including a $1.7 million deposit to Fund 46 and a $297,545 OPEB contribution as recorded in the motion. The board carried both motions.
The Medford Area Public School District Board approved two finance committee recommendations during its July 27 meeting, moving money to the district’s long-term obligations and capital account.
According to the agenda and the finance committee motion, the board approved a contribution to the district’s Employee Trust Fund (OPEB). The agenda lists a proposed contribution of $297,454; the finance motion recorded and carried approved a contribution of $297,545 to Fund 73 (trust fund). The record shows the motion came from the finance committee and that it carried.
The board also approved a $1,700,000 contribution to Fund 46, the Capital Project Fund. The agenda states the Fund 46 balance as of June 30, 2026 was $5,499,635; the proposed $1,700,000 deposit would raise that balance to $7,199,635, with an estimated remaining allocation to fund balance of roughly $522,635. The motion from the finance committee to approve the Fund 46 contribution carried.
The motions were recorded as committee actions rather than individual-member motions; the minutes show "Motion from finance" and do not list a named mover for these specific votes. The board’s approval finalizes the transfers but does not identify specific spending allocations from Fund 46 beyond the contribution itself.
