The Plymouth School Board has set a goal to have a goal in its Rainy Day Fund.
During Tuesday night’s school board meeting, members sought recommendations from Superintendent Dan Tyree and school corporation Business Manager Kandi Tinkey on adequate levels for a Rainy Day Fund.
Tyree says it’s been recommended before.
“So we sat down after the last meeting and went through what we thought would be a good goal,” says Tyree. “$3-million is what we’d like to build the Rainy Day fund up to.”
The school board put the recommendation in the form of a resolution which allows the corporation to begin saving the dollars, but also outlines the need for school board approval should the money need to be used.
It has been a goal for some time to have a positive balance in the Rainy Day fund. The corporation says they’ve always had a general idea that they should have funds available, but have not set a formal number.
Under the recommendation, the school corporation would build up to that number over the next seven to 10 years. School Board President Todd Samuelson says it was a goal just to have a balance.
“You know, as we consider different uses of funds – whatever those might be – my thought process was that without something, at least, and this is not binding, this is a goal,” says Samuelson.
The school corporation hopes to build up to the $3-million total in the Rainy Day fund without affecting any other funds under its operation.
School Board members approved the recommendation, unanimously.
