The Eastern Pulaski School Board has given a major boost to the corporation’s Rainy Day Fund. On Monday, board members transferred a total of $2 million out of the school corporation’s Operations account.
Superintendent Dara Chezem explained that it had to be split between the 2019 and 2020 budget years, with the 2019 transfer being approved retroactively. “This is not extra money,” she said. “It’s been sitting in an inactive account, and as we work to address the deficit spending and come up with a long-term plan, we’d like to move this into the Rainy Day Fund. We can only transfer a portion. This amount was supposed to have been transferred into Operations with House Bill 1009, and it was not transferred at that time.”
The Eastern Pulaski School Board will also consider an additional appropriation of almost $1.2 million for Debt Service to correct a budget error. Chezem said it will be up for board members’ approval on January 29, since it wasn’t advertised in time for Monday’s regular meeting.
