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$900,000 extra in Dundee reserve funds

   DUNDEE—The Dundee school board reported at their meeting Thursday, Nov. 8 the school has retained $1.5 million in the unassigned reserve fund balance for the school year 2012-2013. This amount is $900,000 more than what the state allows for a reserve fund balance. New York State allows a 4 percent limit for unassigned reserve funds.
   According to the reserve analysis provided by school business officer Melissa Lawson, there are two different types of reserve funds for the school district: those that are restricted for a specific use, and those that are unassigned. The reserve analysis shows the complete balance of both types of funds is at $10,258,859, which includes the $1.5 million in unassigned reserve along with the reserve funds meant for restricted use. Of the total balance, there was an almost $1.2 million increase overall. The largest restricted reserve balances include $3,688,237 in the employee benefit accrued liability reserve, $1,825,000 in the retirement contribution reserve and $1,791,064 in the capital reserve.
   Lawson said the board has the option of using the excess funds to supplement or create a reserve fund for the 2013-2014 school year or use it to supplement the tax levy. She said the board will have to vote on it before their annual meeting held May 14 of next year.  Superintendent Kathy Ring said the board should try to schedule another budget workshop soon to try to come to a decision as well as address other financial matters.
   In other business:
• The board approved creating two boys modified basketball teams for the year, due to there being 31 boys who have signed up and stuck with the program. Each team will consist of at least 15 players and will allow more students to have playing time instead of forcing the team to make cuts.
• Ring said the board is continuing to look into shared services with the Penn Yan Central School District. She said there will also be continued discussion on the possibility of sharing a superintendent. Ring said the administration is looking at all possibilities and will come to the board with the best options for the students.
   The next meeting of the Dundee School Board is Thursday, Dec. 13 at 7 p.m., with a policy committee meeting at 6 p.m.

 

 

 

 



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