Unit 2 Finances

At its June meeting, the Bond County Community Unit 2 Board of Education conducted a public hearing and they approved an amended budget to reflect the finances at the end of the fiscal year.

That fiscal year concluded June 30th.

The budget was amended to cover extra expenses that occurred in the operations and maintenance fund.

The board approved a financial resolution to transfer $60,500 from the working cash fund to the operations and maintenance fund. It will be a permanent transfer.

A resolution was also adopted to secure a line of credit with Bradford National Bank.

The amount is not to exceed $2.5 million and will be at an interest rate of 2.25 percent.

Unit 2 Superintendent Wes Olson said the district will proceed with the line of credit because some of it could be needed to help cover July bills, He said it is available in case it is needed, but will only be used if necessary due to the current district cash flow.