Board reallocates $441,000 in capital funds to cover bus, bond and insurance obligations

The Bath County Board of Education approved a capital-funds reallocation of $441,000 to cover district obligations including purchase of a new school bus, KISTA payments (general fund portion), principal and interest on an energy bond, and part of property insurance.

A staff presenter explained the reallocation and noted the district’s conservative reserves in other columns; the presenter said the transfer would help offset an expected general-fund overspend of roughly $618,000. “This $441,000 that we take for some of these capital projects will help offset that,” the presenter said.

Board member Kim made the motion to approve the capital funds request, Ashley seconded, and the board approved the request by voice vote.

The presenter said the district typically uses a portion of the set-aside funds and that the transfer is not expected to affect bond payments. Board members did not request an immediate amendment to the district’s budget schedule and directed staff to continue reporting monthly financials as part of routine oversight.