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Board approves $329,809 transfer to fund pavement project
Summary
The Rankin School District #98 board unanimously approved transferring $329,809.17 from the Education Fund to the Capital Projects Fund to cover the Pavement Improvements Project; the FY25 tentative budget projects deficit spending that district leaders will monitor.
The Rankin School District #98 Board of Education voted unanimously to transfer $329,809.17 from the Education Fund into the Capital Projects Fund to pay expenses related to the district's Pavement Improvements Project.
Dr. Matt Gordon, who reviewed the district's tentative FY25 budget, said the district's auditor recommended the transfer because the Capital Projects Fund had a healthier balance to absorb project costs. He told the board the June tentative budget projects overall deficit spending of -$414,322 and a deficit of -$55,322 when excluding the planned pavement spending, and said he will monitor the fiscal year closely and keep the board updated.
Board Member Nena Cox moved the resolution and Board President Debbie Lowman seconded; the roll call vote was recorded as unanimous (6‑0). The budget change will appear in the FY25 Original Budget at next month’s public hearing and adoption vote.
