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Preston board votes to take School Modernization Fund as lump sum
Summary
Trustees voted 4-0 (one absent) to accept School Modernization Fund disbursement as a lump sum so the district can invest the money and use earnings for projects, a superintendent recommendation.
The Preston Joint School District Board of Education voted Sept. 18 to receive its School Modernization Fund disbursement as a lump sum rather than annual installments.
Superintendent Dr. Harrison had recommended taking a lump sum so the district could invest the funds and use earnings to support planned facility projects. Trustee Susan Yardley moved the motion to take the lump sum; Geniel Lyons seconded it. The motion carried with four votes in favor and one trustee absent.
Board documents show the motion was accompanied by a checklist confirming compliance with Idaho Code requirements and House Bill 521 allowable expenditures. The board asked administration to provide a list of stakeholders and a 10-year plan for how modernization funds would be spent; Dr. Harrison said he would present a 10-year plan at next month’s meeting.
The decision sets the district’s modernization funding approach for the coming year and allows administrators to plan capital work with the full available funding amount.
