The Bremen School Board approved two resolutions when members gathered for their first meeting of 2020.
Superintendent Dr. Jim White shared that a Transfer of Appropriation resolution was approved and that simply had to do with straightening up the budget at the end of the year.
He noted that about $8,000 was over spent for one program so they were able to transfer left over appropriations from another in order to bring the fund back into the black.
Additionally, a resolution was considered to help the School Corporation prepare for the New Year. Members approved a Transfer of Funds resolution which specified $100,000 will be transferred from the Education Fund into the Operation Fund on a monthly basis.
This is a fairly common action that school corporations have had take since the new budget system was put in place. It allows officials to supplement the Operation Fund with state-funding that is automatically placed into the Education Fund.
The State Board of Education recommends that no more than 15 percent of the Education Fund be transferred. Dr. White said they’re well within that stipulation, with their amount only coming in at about 12 percent.
