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Board approves $7 million transfer to capital projects fund
Summary
The Salt Creek School District 48 board approved a $7,000,000 transfer from the Educational Fund into the Capital Projects/Operations & Maintenance Fund on Nov. 19, 2024, unanimously voting to authorize use of the funds for items on the FGM Master Facility Plan.
The Salt Creek School District 48 Board of Education voted unanimously Nov. 19 to transfer $7,000,000 from the district's Educational Fund into the Operations & Maintenance/Capital Projects Fund to pay for capital projects identified in the district's facility plan.
Julie Jilek, Director of Operations & Business Services, presented the resolution authorizing the transfer and noted the board had received no public comments during the preceding public hearing. Mr. Van De Velde requested the motion; Mr. Blair moved and Mr. Kielminski seconded. On roll call the five members present voted aye (Mr. Blair, Mr. Kielminski, Mr. Downer, Mrs. Rattana and Mr. Van De Velde); two members were absent (Mr. Cuny, Mr. Dickens).
The resolution text included a formal finding that the board determined it "is in the best interests of the School District to transfer seven million and No/100 Dollars ($7,000,000.00)" to the Capital Projects Fund to pay for acquisition, additions, renovations and other construction tied to the FGM Master Facility Plan. The transfer was adopted effective Nov. 19, 2024.
The board did not attach specific line-item allocations in the meeting minutes; administration will handle execution of the transfer and capital-project disbursements, and the district's capital fund balance will reflect the change in the next published financial statements.
Next steps: the Treasurer was authorized to make the transfer immediately and the resolution took effect upon adoption.
