Two more scholarships are being added to the annual Albert Lea School Board scholarship this year due to an abundance of funds in the program’s reserves.
According to Superintendent Mike Funk, the scholarship’s reserves have about $3,000. The board usually gives out two scholarships per year, each worth $500. The school board members themselves are the ones who fund the scholarship, board member Linda Laurie said.
The reserve grew because board member Bill Leland contributes all of his board pay to the scholarship fund; each board member gets $1,200 per year.
Leland said he does this because when he was first a board member, financial difficulties prevented him from contributing to the scholarship fund. This is his way of returning the favor to board members who covered for him when he couldn’t contribute, he said, and he also wanted to create a reserve in case a board member couldn’t contribute in the future.
Funk said the purpose of the program is to provide scholarships to students, and said there’s no reason to have a reserve of $3,000.
[For more of this story, written by Hannah Dillon, go to http://www.albertleatribune.co...expand-scholarships/]
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