20 Aug 2014
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Pearl River Administration Recommends Reserve Fund Adjustments

Changes in the allocation of reserve funds are on the agenda for tonight's Pearl River School District Board of Education Meeting.

Pearl River Administration Recommends Reserve Fund Adjustments

The Pearl River School District Board of Education will meet 7:30 p.m. tonight at the district administration building rather than its usual Tuesday to adapt for Yom Kippur.

The full agenda for tonight's meeting is attached to this report. The allocation of reserve funds will be one key topic, with Director of Operations Quinton Van Wynen recommending the following changes.

  • Transfer $546,450 in certiorari reserves from 2005-06 to the current fiscal year to help pay for current tax challenges involving Blue Hill Plaza, Manhattan Woods and Cellco. According to his office's analysis, all tax challenges with claims for 2005-06 have been settled.
  • Transfer approximately $633,400 in excess funds from 2011-12 to two reserve accounts, with $400,000 going to retirement contributions and $233,400 for capital projects. Most of the surplus comes from the $1million settlement with Olympus Surgical & Industrial America Inc.

Other items on tonight's agenda include:

  • Personnel items including the resignation of teaching assistant Kelly Matney.
  • Second and final readings of a series of board policies, most of which were either reviews or revisions of existing procedures. 
  • Purchase texts for Spanish 4 and 5.
  • Adjustments for over-expended items based on the audit by O'Connor Davies

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