Culver School Board Dips Into Budget Reserves

Culver Community School CorporationThe Culver School Board has approved some adjustments to its budget as it approaches the end of the year. During Monday’s meeting, they voted to appropriate additional money from the Rainy Day Fund to help cover the cost of salaries.

The school corporation’s treasurer Casey Howard says money had already been appropriated for that purpose due to a shortfall in the general fund. However, most of those funds now have to be used to make a bond payment that’s due on January 1 because that payment wasn’t fully appropriated. The board also gave its approval to make the bond payment using money from the Rainy Day Fund.

Also during Monday’s meeting, the board voted to take some unused funds out of the 2015 budget, so they can be moved to next year’s budget.