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Trustees pass resolutions allowing I&S fund reimbursements and transfers for capital projects
Summary
The board approved three related resolutions that authorize reimbursement to the General Operating Fund by the Interest and Sinking Fund for certain bond payments, remove designation from future construction account funds, and permit transfer of surplus I&S balances to the General Fund for specified capital projects; votes were 5–1 with one trustee dissenting and one absence.
At the June 22 meeting the Mason ISD Board adopted a package of resolutions relating to the district's bond accounting and capital fund designations. Pam Kruse moved each resolution and Kathryn Martin or Joe David Yates seconded depending on the item; each resolution passed with a 5–1 recorded vote (Liz Rich voting Nay) and one trustee absent. The measures included (1) authorizing reimbursement of the General Operating Fund by the Interest and Sinking Fund for payments tied to the District’s Unlimited Tax School Building Bonds, Series 2016; (2) removing designation from some or all funds in the Future Construction Account of the General Fund; and (3) authorizing transfer of surplus Interest and Sinking Fund balance to the General Fund for certain specified capital projects.
The transcript shows motions and recorded votes but provides no dollar amounts, line-item allocations or effective transfer schedules; implementation will require business-office accounting and possible further board direction.
