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Covington ISD reports healthy balances; duplicate Higginbotham entry corrected
Summary
Superintendent told the board the district moved $500,000 into a local investment and now shows a $798,000 balance in that account, noted declining bond‑account interest and said a duplicated Higginbotham line on the report was an error that has been rectified.
The Covington ISD superintendent reviewed the district's monthly accounts on Oct. 6, saying recent state payments allowed the district to move $500,000 into a local investment and to shift funds into taxable accounts that earn higher interest. "We moved 500,000," he said, noting one account now shows $798,000 while another $300,000 account earned only $30 in interest last month.
The superintendent also described bond‑account activity, saying bond payments reduced the interest from a prior $41,000 to $25,000 in the latest statement but that the district still recorded monthly interest of $33,147. He drew the board's attention to a duplicated line for "Higginbotham" on the reports, calling it "an error" and saying the district did not pay the item twice and that the records have been corrected.
Board members took no substantive action beyond approving the monthly accounts as presented. The board president called for a motion, and the board voted to carry the item.
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