Washington School District Operation vs. Construction Funds

An issue was raised on Ticked Off Tuesday, asking why the Washington School District needs a tax increase for schools when they have plenty of money in reserves. According to the district’s Chief Financial Officer Shelly Kinder, the operation fund, which has a reserve, is totally separate from the construction fund that would pay for improvements to the district buildings.

Because Washington relies so heavily on local taxes instead of formula funding, the district is required by the state to have a minimum of around 18% in operation reserves. The Washington School Board has decided to keep their reserves between 22 and 27 percent. The reason for this, according to Kinder, is because of the uncertainty of funding on the state and federal level, not to mention the recession.
The district also carries a larger reserve to manage cash flows while it waits for tax dollars from the County Assessor to start coming in.

The Washington School District fund that pays for construction projects currently carries a 4 million dollar balance. That balance would be used up quickly if any major emergency would occur like the tornado in Joplin or something as simple as a water heater going out.

ATHLETE OF THE WEEK

1 day 20 hours ago

The KLPW Radio Athlete of the Week is Junior Basketball Player Hailey Diestelkamp with the Owensville Dutchgirls. She recently became the all-time scoring leader at Owensville High School surpassing Katie Davis. Hailey played volleyball her first two years of high school, but after suffering an injury playing basketball last summer, she decided to focus on basketball this year. Hailey runs track in the spring.

OFF THE CUFF with Diane Jones

1 week 1 day ago

It came as a shock to a lot of people to find out that the contract for the Union license office, which has been operated by the Union Chamber of Commerce since the 1970's, was being turned over to a for-profit company based out of Jefferson City.

What happened? It's a classic case of two all-too-common phenomena in the world of government--unintended consequences and the revolving door.

OFF THE CUFF ARCHIVE

FRANKLIN COUNTY NEEDS A POOL - 01/14/2015 - 11:40am
THE CLICK CLACK EFFECT - 12/31/2014 - 11:22am

SPORTS CORNER

18 hours 4 min ago

Boys Basketball...
The Union Tournament resumes with two first round games this evening...
Borgia vs. Union at 5:30
Washington vs. St. Clair at 7:00.
We will join the action in progress at 6:00 on KLPW-AM 1220.

Hermann Tournament-First Round...
At the High School...
Warrenton vs. Chamois at 6:00
New Haven vs. Wright City at 7:30