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Use of remaining IPP funds discussed
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The Kershaw County School District (KCSD) has $2.6 million left in its Installment Purchase Plan (IPP) fund which was used to finance the first phase of the school equalization building and renovation program. That’s what KCSD Chief Financial Officer Donnie Wilson said during Tuesday afternoon’s Facilities and Finance Committee meeting, adding that the $2.6 million also includes interest earned on IPP funds. However, since several current and recently-completed construction projects have yet to be “closed out,” Wilson recommended the board consider holding back $400,000 for contingency -- a move that would ultimately leave the district with a net amount of $2.2 million to spend on future construction projects.