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Board approves $87,621.83 ledger transfer to correct MICR processing error
Summary
Superintendent reported checks were processed through the Building Fund due to a MICR line issue; the Board approved a corrective transfer of $87,621.83 from the General Fund to the Building Fund.
Superintendent Frank Solomon informed the Board that General Fund checks #3576–#3647 were processed through the Building Fund bank account because of a MICR (Magnetic Ink Character Recognition) line issue in the district's accounting software. To correct the ledger, he asked the Board to approve a transfer of $87,621.83 from the General Fund to the Building Fund. The Board approved the transfer by a 5–0 vote; Mr. William Broom moved the action and Mrs. Wendy Barnes seconded.
The minutes record the reason for the transfer as a general ledger correction. The motion does not identify additional controls, a timeline for reconciliation, or whether an external audit will review the affected checks; those follow-up actions are not specified in the minutes and would typically be handled by finance staff.
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