Archive for Wednesday, June 30, 2004

Board closes financial books

June 30, 2004

At Monday night's school board meeting, Tonganoxie school officials closed out the 2003-2004 school year.

By a vote of 4-0, school board members voted to approve year-end fund transfers. This included $95,684.22 to the capital outlay fund.

"We're going to transfer less to capital outlay than we did last year," Erickson told board members. "Last year we transferred the full 2 percent allowed."

Last year's transfer to capital outlay totaled $158,736, Erickson said.

Overall, Erickson said, the budget was tighter than it was a year ago at this time.

"I think it will be an even tighter budget this coming year," Erickson said.

He said that is, in part, because the state Legislature held the district's per pupil rate to $3,863 for a third consecutive year.

Even so, Erickson was optimistic.

"We're in a fortunate situation," Erickson said Tuesday. "A lot of school districts would like to be in a situation that USD 464 is in right now -- with a growing enrollment and with a growing property assessment valuation."

Board members also approved year-end bills.

And, board members voted to approve First State Bank's lease purchase agreement on three large buses and one small bus at a cost of $209,143. The interest rate will be 4.187 percent on a four-year note.

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