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Committee learns $74,003.64 remains in a designated stadium account; auditors say money is restricted
Summary
Committee members discussed a longstanding donated account for a stadium/athletics project with a balance of $74,003.64; staff and auditors said the money was designated for that purpose and cannot be repurposed without donor approval, and the committee asked staff to research donors and legal options.
The committee discussed a legacy account tied to a historical athletics/stadium project for Central Mountain High School. Staff said auditors told them the account was established with donations for a specific purpose and therefore cannot be repurposed without donor consent. The Treasurer (Speaker 2) read the balance as "$74,003.64."
Committee members said they would investigate further before spending any funds on unrelated capital needs and asked staff to consult the auditors and research donor records. Staff and members suggested contacting earlier donors and potentially seeking legal counsel to determine whether the funds could be redirected; no spending decision was made at the meeting.
