The recent transition in the school funding structure was reviewed with Culver school officials Monday. On January 1, each school corporation’s General Fund was replaced by an Education Fund, while the Capital Projects, Transportation, and Bus Replacement Funds were combined into an Operations Fund.
Culver Schools Superintendent Karen Shuman says an update was given during Monday’s board of finance meeting. “Our business manager, Casey Howard, gave a report on how she has created all the funds for the upcoming calendar year and transferred monies from the old General Fund into our new Education Fund and transferred all the money from the other funds into our new Operations Fund,” Shuman says. “So she gave a report out to the finance committee on how that looks in our books and how the reports will be looking from here forward.”
Shuman says the board of finance also discussed how the new funding structure affects the school corporation’s expenditure goals for the year. “We did discuss some capital project potential items for expenditure now out of the new Operations Fund, our bus replacement calendar time-line, and we also discussed the Education Fund and making sure that we are investing our money correctly.” However, Shuman says there are no major changes from previous years’ expenditure goals.
The Culver Community Schools Corporation’s board of finance consists of the president, vice-president, and secretary of the school board.