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Board approves adjustments to reserve funds and posts reserve balances
Summary
The board approved adjustments to the district's unassigned fund balance, listing reserve accounts and balances including TRS Subaccount Reserve $1,643,633.00 and total reserves of $6,676,324.99; the motion carried unanimously.
The board on June 15 approved adjustments to unassigned fund balance to be made by June 30, 2026. Mr. Shover presented a reserve schedule that lists individual reserve accounts (e.g., Workers' Compensation Reserve $212,063.94; Reserve for State and Local Retirement System $551,202.89; TRS Subaccount Reserve $1,643,633.00; Reserve for Capital Construction Fund $2,045,878.64) and an overall total reserve balance of $6,676,324.99 as shown in the minutes. The motion carried unanimously.
The schedule includes stated purposes for each reserve, dates of establishment, and estimated interest to June 30, 2026. The board approved the adjustments to better align reserve funds with projected needs and statutory uses.
