Oregon-Davis School Board Transfers $180,000 from Rainy Day Fund to Retirement Fund

The Oregon-Davis School Corporation is tapping into its Rainy Day money to help shore up its Retirement Fund. Superintendent Bill Bennett says the school board agreed last week to transfer $180,000. “In past collective bargaining agreements, we had teacher buyouts or incentives for retiring,” Bennett explains. “And so we moved the money from Rainy Day into the Retirement Fund to cover the cost associated with those buyouts.”

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Knox City Council to Consider Loans between City Funds to Prepare for COVID-19 Impact

The Knox City Council will take steps tonight to prepare for COVID-19’s impact on the city’s finances. Council members will consider temporary loans of $150,000 from the Economic Development Income Tax Fund to the General Fund and $35,000 from the Rainy Day Fund to the Motor Vehicle Highway Fund. Mayor Dennis Estok told the board of works Friday that MVH is expected to take a big hit.

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