The Oregon-Davis School Corporation is tapping into its Rainy Day money to help shore up its Retirement Fund. Superintendent Bill Bennett says the school board agreed last week to transfer $180,000. “In past collective bargaining agreements, we had teacher buyouts or incentives for retiring,” Bennett explains. “And so we moved the money from Rainy Day into the Retirement Fund to cover the cost associated with those buyouts.”
The school board also agreed to let school officials move up to $40,000 a month from the Education Fund to the Operations Fund. It’s become a typical step for school corporations around Indiana, since the state changed the school funding structure in 2019.
In other business, Bennett says the school board set its fiscal goals for 2021, “Our fiscal goals are based on trying to make sure our expenditures go as much to student achievement and learning as possible, obviously reducing expenditures in overhead areas or admin costs, et cetera.”
Meanwhile, Bennett says Oregon-Davis’s investments earned about $2,100 in interest in 2020.
