Board approves $87,621.83 ledger transfer to correct MICR processing error
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.
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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.
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