Fund Transfer At Board Meeting



In the first meeting of the 2015-16 school year, the Roslyn Board of Education authorized a transfer of $3,100,000 from the district’s general fund to the capital fund. This was based upon the recommendation of the superintendent after determination of the fund balance available on June 30, pursuant to the voter authorized bond resolution. The bond resolution was decided on May 20, 2014. The purpose of this transfer is to reduce the amount of money that needs to be borrowed for the capital projects authorized by the voters as part of the bond resolution adopted.

“The reason for this amendment is that we have reached the end of our audit for 2014-15 and have discovered that our excess of revenues over expenditures is much higher than

anticipated,” said Meryl Waxman Ben-Levy, board president. “Since we have already submitted the tax levy for 2015-16, there are limited options that we have with respect to the use of these funds. The net result of this action will be to reduce the taxes necessary to pay for eventual bonds and to reduce the interest payments on the bonds themselves.”

In other news, the board and the Roslyn Food Service Association agreed to reopen terms of a contract relating to the expiration of a 2009-2015 labor agreement between the two parties last June 30. Both parties will enter in negotiations for a successor labor agreement prior to the expiration of the existing labor contract. The board authorized Ben-Levy and the acting superintendent to execute a more formal written agreement.

The next meeting will be held on Thursday, Sept. 24 at 8 p.m. at Roslyn High School.



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