It’s money in the bank for school board
Published 12:00 am Tuesday, April 17, 2007
In a meeting last week, members of the City of Selma Board of Education expressed concern with the school system’s financial records – particularly over alleged missing funds.
This comes in the wake of the resignation of Dr. James Carter, former superintendent of Selma City Schools.
But, there are no missing funds, according to Warren Craig Pouncey of the State Board of Education.
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Pouncey indicated he believed the board’s summary of the meeting is almost as if “this account of what occurred was to vindicate the board for actions they have taken.”
Pouncey said nothing he shared was intended to be interpreted as an indictment against any individual.
The board’s meeting summary states the $10 million fund balance represents two months operating cost with $4 million left over.
The summary reports $2 million has disappeared and is unaccounted for. As of March 31, the fund balance stands at $7,557,805.82.
But, Acting Superintendent Dr. Verdell Dawson explained to the board that the general fund total did not include federal programs, debt services, capital projects, account receivables, account payables or encumbrances.
The school board has indicated it will seek further assurances that there are no missing funds, despite the fact that they have been given assurances that the money is accounted for.
Being financially sound is not a bad thing. In fact, with the report on the condition of Selma High School’s facilities, it looks like that money tucked away will come in handy for a building project.