Declining enrollment at the Plymouth Community School Corporation has led to a slightly lower cash balance in the corporation’s General Fund. During Tuesday’s board of finance meeting, Business Manager Kandi Tinkey said the school corporation ended 2017 with roughly $3.4 million in its General Fund reserves.
That’s a bit less than the previous year’s figure. Tinkey said she’d hoped that amount would go up, the the lower student population has hurt the funding a little bit.
The corporation’s other funds fared better, though. Tinkey reported a higher-than-expected cash balance of over $936,000 in the Capital Projects Fund. That means the corporation should be able to use some of that money to help build up its Rainy Day Fund.
Meanwhile, Tinkey said the Transportation Fund is in excellent shape. She credited the Transportation Department staff’s smart rethinking of its spending. The Bus Replacement Fund also had some money left over at the end of 2017. Tinkey explained that buses ended up costing less than anticipated.
She added that the corporation’s certificates of deposit earned more than $105,000 in interest last year. That’s about $55,000 more than the year before.