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Board approves payments, transfers $1.16 million to capital reserve and commits $2 million for future projects
Summary
The board approved payment of bills totaling funds across several accounts, approved a $1,157,767 transfer to the Capital Reserve Fund, and adopted a resolution committing $2,000,000 of fund balance for future capital projects (an increase of $600,000).
At its June 2 meeting the South Williamsport Area School Board approved several financial motions. A motion by Miller, seconded by Bachman, approved payment of bills with the following published amounts: General Fund $803,298.55; Food Service Fund $54,961.94; Capital Reserve Fund $2,767.50; GO Bond 2023 $102,727.55; GO Bond 2024 $3,133.40. The roll call vote was unanimous.
The board also adopted a Committed Fund Balance Resolution to set aside $2,000,000 for future capital projects — an increase of $600,000 over the prior committed amount — on a motion by Miller, seconded by Rupert. Separately, the board approved a transfer of $1,157,767 from the General Fund to the Capital Reserve Fund (motion by Rupert, seconded by Hitesman). Each action carried on unanimous roll call votes.
