DECATUR COUNTY – The Decatur County Schools Board of Trustees held their annual Board of Finance meeting last week following the board’s reorganizational meeting.
Treasurer Melissa Leap presented the 2023 interest earned on investments from September through December. The presented total interest earned on the corporation checking account was $53,875.45 and the total interest earned on the TrustIN account was $52,150.68 for a total of $106,026.13.
“As schools began last year to move money to other places to try to get higher interest rates, many banks started to reach out,” Leap said. “Also, Trust Indiana has some ways of investing from the state that local banks cannot.”
The Distressed Unit Appeal Board report was the next part of the meeting presentation. The report showed DCCS with a stable, Average Daily Membership (ADM), which is the student body population that determines state funding.
“In the fall of ’22, we were at 1,807 students and in the spring of ’23: 1,806, very stable there,” Leap said. “And then actually, this fall’s ADM… is also 1,806.”
Fund balances as percent of operations expenditures, revenue by type, operating referendum revenue, fund balances and annual deficit/surplus were also presented. Those statistics are available on the DUAB website at https://www.in.gov/duab/school-corporation-fiscal-indicators/dashboard/.
