Globe — The Globe Unified School District approved the transfer of $250,000 in funds generated from sale of school property to the general fund to make up for the past three years of reductions in state aide.
This move makes the money available for use in capital and maintenance and operations expenditures.
Director of Business Operations Jennifer Kinnard told the board that the district has been careful not to end any school year with a negative balance but cash reserves are dwindling.
The transfer will take about half of the reserved $505,539.94 in property funds.
Kinnard said the State Auditor General recently clarified that this money can be used to pay for outstanding bond indebtedness or for reduction in school tax.
The resolution was approved unanimously with all board members present.
High Desert Middle School Principal Steve Estatico reported that enrollment continues to increase for this academic year. An additional 14 students have been added over the 494 students reported at the board meeting two weeks ago.For the complete article see the 10-09-2013 issue.
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