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Gladewater ISD approves fund amendments, opens bond account and later OKs one-time employee stipends
Summary
The board approved multiple fund amendments (Fund 199 Amendments #10 and #11; Fund 240 Amendment #2), authorized a new bond proceeds account at City National Bank, tabled large purchase orders pending possible grant funding, and later approved one-time employee stipends from fund balance.
At its June 22 meeting Gladewater ISD approved several financial adjustments intended to reconcile year-end accounts and reflect state-reported revenue increases. The board approved Fund 199 Budget Amendment #10 to reclassify year-end functions across instruction, operations, health services and food services with a net $0 impact on fund balance. The board also approved Fund 199 Amendment #11 to post additional CTE revenue per the TEA Payment Ledger.
The board approved Fund 240 Amendment #2 to increase commodity expense in order to reduce School Nutrition excess net cash to within the six-month target required by the Texas Department of Agriculture. Trustees also approved opening a new bank account for bond proceeds at City National Bank. A separate item to approve purchase orders in excess of $25,000 was tabled because of potential grant funding for a bus refurbishment project. After a closed session the board approved one-time employee stipends funded from the district’s fund balance.
