School board hears positive budget report

The Vermillion School District's spending on two major construction projects – the Jolley School expansion and the heating, ventilation and air conditioning (HVAC) replacement at the Vermillion Middle School – required less revenue than originally anticipated.

The Vermillion School Board had estimated that both projects together would have a total price tag of $2,045,000. The actual total was $2,042,459.

The Jolley School expansion went slightly over budget, costing $1,413,559 instead of the anticipated $1,410,000.

The school district made up for that extra outlay of funds with substantial savings at the middle school.

The HVAC project, originally estimated at $635,000, cost $628,900.

The work was financed with the issuance of $1.7 million of certificates, a $40,000 lease from USD, and nearly $240,000 from the school's fund balance.