PIERCETON — By unanimous vote, Whitko Community School Corporation board vice president Jorell Tucker was elected as president for the WCSC Board of Finance and board secretary Roger Boggs as secretary for the Board of Finance in Monday evening’s finance meeting.
Director of Financial Operations Tom McFarland discussed last year‘s total investments, which earned $21,886.95.
“Those investments pretty much included our balances in our checking account and four different banks,” McFarland said. “This is similar to what we saw in 2010, although in 2007, we earned $250,000 and in 2009 we earned $6,000.”
According to McFarland, the Department of Treasury reports low interest rates for the next year.
McFarland discussed the cancellation of outstanding checks which can not exceed two years according to the State Board of Accounts.
The WCSC board of trustees approved the list of cancelled checks.
Financially, McFarland said last year’s budget is closed and proved to be a good year overall.
“We wrapped up and closed out 2011 and I can honestly say that 2011 was a great year financially,” McFarland said. “When we put it ( 2011 budget) together, everything came through pretty much like we expected and we finished with the general fund cash balance just under $1,300,000 which is considerably higher than we have been in the past several years.”