Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Reserves topic
No spam. Unsubscribe anytime.
Laurens Central approves $1.0M liability-claims reserve
Summary
The Laurens Central School District Board voted 5-0 on Feb. 25 to create a Reserve for Liability Claims, valid for 10 years with a maximum balance of $1.0 million. The measure passed as part of routine business.
The Laurens Central School District Board of Education voted unanimously to create a "Reserve for Liability Claims" with a maximum balance of $1.0 million and a 10-year term. The motion to establish the reserve was made by Board Member T. Francisco and seconded by M. Wikoff; the motion carried 5-0-0.
Board members said the reserve would give the district capacity to set aside funds for potential liability exposures while the district continues work on its reserve plan. The action appears in the meeting minutes under the opening agenda and was recorded as approved without dissent. The vote tally published in the minutes is Yes 5, No 0, Abstain 0.
