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Rankin board approves short-term Treasury purchases totaling $2.6 million
Summary
The Rankin School District board approved buying 13-week Treasury bills on or after Feb. 3, 2025, investing $1.75 million (Education Fund), $300,000 (Building Fund) and $550,000 (Transportation Fund).
The Rankin School District #98 Board of Education voted to invest district funds in 13-week U.S. Treasury bills at its Jan. 27 meeting.
Member Debbie Lowman moved and Member Nena Cox seconded the investment plan authorizing purchases on or after Feb. 3, 2025. The motion passed unanimously (5-0). The motion lists planned allocations: Education Fund $1,750,000; Building Fund $300,000; Transportation Fund $550,000, for a combined total of $2,600,000 in short-term Treasury investments.
Dr. Gordon presented the finance summary earlier in the meeting and framed the investment as a cash-management decision while the district monitors capital project spending. The board recorded the vote in the minutes and directed staff to execute the purchases as authorized.
