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Rankin board authorizes $2.725 million in 13‑week Treasury bill purchases
Summary
The Rankin School District board on Feb. 23 authorized the treasurer to buy 13‑week Treasury bills totaling $2,725,000 across three funds—Education, Building and Transportation—part of a cash-management strategy to earn short-term interest, approved 6‑0.
The Rankin School District Board of Education voted Feb. 23 to authorize the district treasurer to purchase 13‑week U.S. Treasury bills totaling $2,725,000. The purchases were allocated as follows: $2,000,000 from the Education Fund, $300,000 from the Building Fund and $425,000 from the Transportation Fund.
The motion to allow the purchases was made by Member Brittany Webb and seconded by President Debbie Lowman; the board approved the authorization by a roll-call vote of 6‑0. Dr. Gordon discussed the district’s current finance outlook earlier in the meeting and noted deficit spending is forecast for FY26, with an expectation that the Amended Budget presented in June will show a smaller deficit than the Regular Budget approved in September.
Board members framed the vote as a short-term cash-management measure rather than a long-term investment shift. The district will initiate purchases on or after March 2, 2026, as described in the motion. No dissenting votes were recorded.
