The Knox Community School Corporation is looking to maximize its cash reserves. Superintendent Dr. William Reichhart told the school board Tuesday that the school corporation has a total of about $7 million in its various funds. That money is currently earning an interest rate of about 1.75 percent.
Reichhart raised the possibility of earning even more by locking some of it up in a 12-month certificate of deposit. He noted that moving $2 million into a CD could bring in another $20,000 a year, due to the higher interest rate.
Reichhart asked the school board to think about that option, for further discussion at the October 23 board meeting.
