The Board of Trustees met to review bond finances from past programs, discussing project savings and construction project management.
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Trustees hear bond funds recommendations
Chief Financial Officer Elaine Cogburn reported action steps from a Texas Association of School Business Officials (TASBO) report on the district’s construction funds and accounting. The TASBO report made eight recommendations, including spending leftover cash from the 2007 bond program. The district finished several 2007 bond projects under budget and earned interest on bond proceeds resulting in balances from those projects totaling approximately $18 million.
In a joint meeting with the district’s Bond Advisory Committee, a citizen’s group that works with district leadership to review bond projects and financing, the Board shared thoughts regarding ensuring money is used to its original, voter-approved intent. The district plans to spend the 2007 bond leftover money to cover construction costs for Tarvin Elementary.
“We want to thank our Bond Advisory Committee members for their dedication,” Board President Trish Bode said. “We complete our primary goal of educating students to their fullest potential when we operate in conjunction with our community, taxpayers, and voters. We rely upon the trust we earn. I’m appreciative of our district’s prompt response moving us in the direction of increased transparency and focusing on responsible fiscal management of district resources.”