In order to help the district’s Operations and Maintenance Fund, the Bond County Unit 2 board has transferred money from the Tort Insurance Fund to it.
The action was taken during the board’s June meeting.
It was reported the district has accrued an excess amount in its Tort Fund, while here are not sufficient funds available in the Operations and Maintenance Fund to meet its needs.
The board transferred a total of $500,000 for the sole purpose of meeting one-time, non-recurring expenses in the Operations and Maintenance Fund.
Unit 2 Superintendent Wes Olson said the Operations and Maintenance Fund has been operating at a deficit almost every year.
The district has once again secured the firm of Mose, Yockey, Brown and Kull of Shebyville to conduct audits for the fiscal year ending June 30. The total cost is not to exceed $17,000.
The board approved a three-year contract with Bushue Human Resources of Effingham. The cost in the coming school year is $8,820 and it will increase $60 each of the following two years.
Superintendent Olson said the firm provides valuable services with worker’s compensation and unemployment issues, reviews insurance bids, and conducts background checks for the district.
The district is remaining with the Prairie State Insurance Cooperative for commercial insurance coverage.
The new premium quote represented a 32 percent increase to $127,147 for the 2020-2021 school year.