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APS board places trust funds toward scholarships

April 16, 2012
Emily Siegmon - News Staff Writer , The Alpena News

ALPENA - The Alpena Public Schools Board of Education decided how to distribute the funds from the Eunice Loeweke Trust bequest it received in February during its Monday evening board meeting, and held a public hearing about adopting the new bullying policy.

Assistant Superintendent Diane Block summarized the finance committee's decision about the distribution of the $65,676.60 Eunice Loeweke Trust bequest in remembrance of Nelson Eddy, who was an Alpena resident in the 1920s.

According to Block, at its April 11 meeting, the finance committee made the recommendation to transfer $46,000 to the scholarship portion of the APS endowment fund, which is held on the district's behalf by the Northeast Michigan Community Foundation for academics and extracurriculars. The funds will be placed in the endowed non-spendable portion of the fund, which will eventually generate income sufficient to award scholarships.

The board also agreed that the balance of $19,676.60 will go toward the fund balance policy for student activities. Requests will go to the finance committee for consideration, but full board action will be required to commit the funds, and funds will carry over from year to year until spent.

The board also held a public hearing for the second reading and adoption of NEOLA Replacement Policy 5517.01 regarding bullying and other aggressive behavior toward students.

In other business:

"I do have a few months to change my mind, but I probably won't," Bowen said.

Emily Siegmon can be reached via e-mail at esiegmon@thealpenanews.com or by phone at 358-5687.

 
 

 

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