GCR-2 transfers $1 million to teacher fund for salaries after DVM approval

By Roxie Murphy, Staff Writer
Posted 7/27/22

Gasconade County R-2 Superintendent Dr. Jeri Kay Hardy said Monday night that the district has 47.3 percent in its unrestricted fund balance after transferring $1 million into the teacher salaries …

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GCR-2 transfers $1 million to teacher fund for salaries after DVM approval

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Gasconade County R-2 Superintendent Dr. Jeri Kay Hardy said Monday night that the district has 47.3 percent in its unrestricted fund balance after transferring $1 million into the teacher salaries account that they can expect to receive from the dollar value modifier law that was passed in July.

“You’ll notice under the financial summaries we have the transfers,” Hardy said. “We transferred that million dollars over into capital (funds).”

Board President Glenn Ely spoke about the transfer.

“Debbie and I and Jeri Kay reviewed what normal practices are on transfers and aligned to that out of the funds,” Ely said. “Before the meeting, we were talking about Dr. Hardy and how well we are aligned to our stakeholders as we move through post-pandemic financial practices. We are going to layer into our agenda once a quarter a little deeper dive to make sure we are well aligned to make it through the next year.”

Hardy took over to explain the funds in the budget summary:

• Incidental fund is the general off-writing fund;

• Teacher fund is the money just to paid certified teachers;

• Debt service to pay our bonds down; and, 

• Capital Projects is to pay down our buildings fund and can only be used for buildings, busses and some technology.

Ely commented on the financial funds and balance.

“I think everyone acknowledges that there is a high expectation of costs are rising,” Ely said. “To have a bumper in our general operating fund is a wise move until we get some continuity and predictability as we move towards this fiscal year.”

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