BCISD approves amendment with Oxea

  

There was a short special meeting of the Board of Trustees of Bay City ISD, which was held Thursday, June 27.

The first item covered was a closed session consultation with Attorney Oscar Trevino, Walsh Gallegos Attorney regarding Amendment No. 1 to Appraised Value Limitation Agreement with Oxea Corporation pursuant to Tex. Gov’t Code Sections 551.071 and 551.087 that lasted approximately 45 minutes. 

There was possible action on Amendment No. 1 to Appraised Value Limitation Agreement with Oxea Corporation.

“I’ll make a move to approve amendment number one contingent and effective upon receipt of supplements and revenue protection payment owed to the date,” said Trustee Eddie Nelson.

This action was seconded by Trustee John DeWitt.

The last item was the approval of Budget Amendment #5, which was present by Chief Financial Officer Richard Johnson.

“What this budget amendment does, is it realizes the increase in revenue of $250,000,” said Johnson. “We’ve received the budget at $575,000 to receive from S.H.A.R.S. Revenue, which is School Health and Related Services and we actually received $825,000 this year that we just completed.”

The other items on the budget amendment are to move funds around from one function to the other to make sure BCISD is covered whenever the audit is finished.

“Kind of balancing the functions in the sense that when you finish the school year on your budget, you don’t want to be short on a function, that affect to this budget amendment is zero to the budget,” Johnson continued.

There was a motion to approve the budget amendment number five made by Trustee DeWitt and seconded by Trustee Trent Tinnin.

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