Wellsville schools seek to transfer funds
LISBON – The Wellsville School District applied through the Common Pleas Court on Thursday to transfer funds from the permanent improvement fund to the general fund. The request is to move $279,087.
According to court documents, the board currently has $616,025 in the permanent improvement fund and currently has no indebted purpose for the $279,087 it wishes to move. The school board adopted a motion to move the funds at its Jan. 13 meeting.
The transferred money reportedly will be used to reimburse the USAS fund for money used to pay permanent improvement obligations’ debt service.