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Sudan ISD board reallocates $757,514 in hail insurance funds to new function for tracking
Summary
Superintendent Scott Harrell recommended, and the board approved, moving hail insurance revenue/expenditure line items from function 51 to function 81, transferring $757,514. The motion carried 7-0.
Superintendent Scott Harrell proposed moving hail insurance revenue and expenditure line items out of function 51 to function 81 to better consolidate tracking of those funds. The recommended accounting entries were: "Decreasing 199-51-6629-00-999-6-99000 by $757,514 and increasing 199-816629-01-999-6-99000 by $757,514." Trustee Ryan Netherland moved the motion, Trustee Dustin Provence seconded, and the board approved the reallocation 7-0.
The vote authorizes the business office to implement the accounting transfer so hail-related revenue and expenses are tracked under function 81 going forward. The dollar amount and specific account numbers were recorded in the minutes.
