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Board approves $5,000 annual allocation from CD interest for Bobby Casey facility needs
Summary
Trustees approved a budget amendment to transfer interest earned from a CD (proceeds of a land sale) to support the Bobby Casey facility, with an annual $5,000 allocation for ag teachers and facility needs.
The board approved a budget amendment to transfer interest earned on a Certificate of Deposit (the proceeds from a land sale tied to the Bobby Casey facility) into the general operating account and to authorize $5,000 for ag teachers’ needs at that facility.
Finance speaker (speaker 6) explained the funds come from interest earned on a CD set aside when the land was sold and that "There is significantly more than $5,000 sitting there in interest." The speaker said the district has previously paid $5,000 to the ag program in recent years and will continue that practice rather than withdrawing the principal.
Trustees moved and seconded the budget amendment and approved it by voice vote. The board noted the funds can only be used for the Bobby Casey facility and related ag program needs.
