Rector School Board Handles Light Agenda

Thursday, December 20, 2018

Members of the Rector School Board handled the few items appearing on the agenda for their regular meeting on Monday, Dec. 10, with expediency. The full board was present and met at the Administrative building in both regular and executive session to conduct business. Among the issues addresed was the approval of a new salary schedule for classified employees.

Jan. 1 will usher-in changes resulting from the new minimum wage amount approved in the November elections. The board approved the updated schedule with no discussion.

In addition, the board approved the list of 2018 Retired fixed assets for the system which had but one item, a smart board which had quit working and was relegated to be recycled.

Further, to keep the amount of funds in the operating fund balance at the legal level, the board voted to transfer 20 percent net from the operating fund to the building fund. The amount transferred is $284,046.27. That amount will appear in the superintendentís financial report in January which reflects the December funds amounts.

The Period 5 statement of fund balances as of Dec. 5 was reported by superintendent Johnny Fowler. Operating fund balance was 1,879,760.01 and the building fund balance was $1,458,000. Adding federal funds and cafeteria funds, the total fund balance is $3,413,497.31 which reflects an increase from this time last year.

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