District 21 moving funds to save money

Dec 5, 2013 By Kelli Ameling, Staff Writer

The Fremont County School District 21 Board of Trustees has approved moving funds from the Wyoming State Treasurer's Asset Reserve (Wyo-STAR) to the Wyoming Government Investment Fund.

During the district's board meeting Nov. 13, associate superintendent of finance consultant Kirk Schmidt told the trustees why he thought the funds should be moved.

"This is another avenue available to us," Schmidt explained. "It safeguards our funds to get 100 percent of the money we put in."

Superintendent Terry Ebert said with Wyo-STAR, the school has the potential to lose money it puts in.

"By moving, we won't lose the funds," Ebert said.

Board treasurer Karen King asked Schmidt if he wanted to move roughly 50 percent of the funds immediately.

Schmidt said "no," stating he only wants to move a little bit at a time to the new fund.

He said if the money were to be moved over now, the board would lose money because the fund is down from when the district started investing in it.

"We will move money out as it gets better," Schmidt said.

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