The Williamstown School Board voted April 9 to change their bank of depository.
Financial Officer Dean Faulkner said the bank had to be within the limits of the school district, and two bids were received.
One bid was from the current depository, Heritage Bank and the other from Forcht Bank.
There were a lot of similarities in the two bids, he said.
While there were a couple of conveniences he liked about Heritage, he recommended the board go with the bid from Forcht; the interest rate offered by Forcht gives a significantly higher earning potential.
The board voted unanimously to accept Forcht Bank as the bank of depository for the period of July 1, 2024 through June 30, 2026.
Faulkner also reported on tuition collection, saying “It’s gotten a ton better.” Only 20 students still owe fees to the district. Tuition was due in full by Feb. 1.
Of the $101,000 due $92,000 has been collected, which is more than was collected last school year, Faulkner said.
The board approved the 2024-2025 bus inspection bid from Grant County Schools of $150 per vehicle.
Also approved was the labor and materials bid for bus maintenance and repair from Grant Schools for 2024-2025. Labor is $125 per hour.
Bluegrass International’s bid was approved as a backup bus maintenance and repair option.
At the end of the meeting the board went into executive session.
The next regular meeting will be Tuesday, May 14 at 6 p.m. at 300 Helton Road, Williamstown.
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