The Knox Community School Corporation may be able to purchase an extra bus, thanks to some leftover funds. Treasurer Sherry Fort told the school board last week that the corporation’s Bus Replacement Fund has built up a significant cash reserve over the years, but this year’s budget only gives them permission to spend $325,000.
In order to use some of the cash balance, the school board voted to transfer $100,000 from Bus Replacement into the Rainy Day Fund. Superintendent Dr. William Reichhart said the corporation plans to use that money to buy either a handicap-accessible bus or a regular bus. Meanwhile, three more buses will be purchased later this year with the $325,000 that was budgeted for that purpose.
School officials emphasized the need for the new buses. School Board President Gary Dulin pointed out that Knox has one of the oldest bus fleets in the area, according to Indiana State Police.
Reichhart also explained that transferring the money to the Rainy Day Fund is quicker and easier than making an additional appropriation, which would take two months and require state approval. He said spending money out of the Rainy Day Fund simply takes a board resolution.
