001I'd like to call this Finance meeting to order um we will begin with election of a president and secretary um asking for nominations nomin as president yes and secretary nomination I Nom other nominations um any discussion oh sorry all those in favor any discussion iose I did that in completely backwards order but I will happily now turn it over to the president and I will happily turn it over to Phil March all right um the designated depositories for the school corporation will be German American Bank and Jackson County Bank the same as we had last year the second element of the second element of this is the annual investment report currently we have 3.2 million of the 3.5 million 2024 Geo bond that we have for the uh long-term maintenance currently invested from from an
002investment standpoint number three review of all um investment policy the investment policy is policy 6144 and I'm not recommending any changes of that at this time next one is the cancellation of outstanding checks we're required to settle any outstanding checks before the two-year Mark our oldest outstanding checks about 15 months right now so we're in compliance with that and lastly is the finan the corporation fiscal and qualitative indicators it's in your packet and you'll see on page one we've got a slight dip in ADM on page two you're going to see a slight reduction in Ed fund slight increase in Ops fund and an increase in local funds due to the 202 23 bonding that we did for the CTE project on page four you're going to see a slight Surplus between revenue and expenses
003and that just means that we uh spent last year spent less last year than what we got in which is a good thing and you also see a fourpoint drop in the fund balances as a percentage of expenditures but we're still in compliance to The Unofficial you know where where we need to be on that there's no real hard Mark but most people use a percent and we are within that compliance too and on page four you see a decrease in the FED funding and that's due to the spend down of the uh stimulus sr3 stimulus got taken care of and that is all I have to report unless there's any questions any questions from board members hearing no questions we'll entertain a motion to adjourn the annual board finan have a motion by Pat
004do I have a second second by Earl all those in favor seven o meeing a