Board discusses interest-transfer item, FY25–26 budget element and status of three open loans

At its Aug. 4 meeting, the McComb School District board considered several financial items on the consent agenda, including an interest-transfer listed as a "16 session interest transfer," approval of the 2025–26 McComb new ticket budget, and comments about three open loans the district is currently paying.

A staff explanation described the interest-transfer as moving interest from a principal account to interest; the presenter said, "It's the interest of the principal account being transferred to interest." A trustee asked a clarifying question about the transfer and staff indicated the board packet should show the principal amount, the interest amount and related payments.

When discussing the district's outstanding loans, a presenter said the district is paying three open loans now and suggested the loans may be finished ‘‘next year or maybe this’’ (the remark in the transcript is incomplete). The transcript does not include dollar amounts, repayment schedules, or the full vote record for the budget or transfer items in the excerpt provided.