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Meeting Date:
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12/19/2024 - 7:00 PM
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Category:
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AGENDA
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Type:
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Action
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Subject:
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AUTHORIZATION: Transfer of Funds from the Debt Service Fund to the Operations Fund
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NCA/AdvancED District Strategic Plan:
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Enclosure
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File Attachment:
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Summary:
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Pursuant to IC 6-1.1-20.6-9.9, the Department of Local Government Finance has determined that School City of Hobart is eligible to allocate circuit breaker credits in the amount of $2,782,508 proportionately across all of its non-exempt funds in calendar year 2024. Mr. Glover, Business Manager, will request up to $750,000 of the Debt Service Fund's fall tax distribution be transferred from the Debt Service Fund to the Operations Fund. The final amount will be calculated in accordance with Department of Local Government Finance procedures after receipt of the fall tax distribution.
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Funding:
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Recommendation:
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That the Board approve the transfer as presented and authorize the Treasurer of the School City of Hobart to transfer up to $750,000 from the Debt Service Fund to the Operations Fund.
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Approvals:
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Recommended By:
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Signed By:
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Robert Glover Jr. - Business Manager
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Signed By:
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Dr. Peggy Buffington - Superintendent
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Vote Results:
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| Original Motion | | Member Frank Porras Moved, Member Rikki A. Guthrie seconded to approve the Original motion 'That the Board approve the transfer as presented and authorize the Treasurer of the School City of Hobart to transfer up to $750,000 from the Debt Service Fund to the Operations Fund.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Terry D. Butler | Yes | | Karen J. Robbins | Yes | | Donald H. Rogers | Yes | | Stuart B. Schultz | Yes | | Rikki A. Guthrie | Yes | | Sandra J. Hillan | Yes | | Frank Porras | Yes | |
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