A wire transfer of $2.5 million has to be made from the Joplin R-8 School District to the P1 Group by Tuesday, November 1, and that money will come from the district's reserves.
R-8 Board President Jeff Koch confirmed to the Turner Report moments ago that the money, the payment of which will end the nearly two-year-old lawsuit, will be taken out of the reserve fund, which CFO Paul Barr said earlier this year was up to 25 percent after falling to around 10 percent during the C. J. Huff Administration.
Barr's assessment of the district reserve fund also includes counting on reimbursement from FEMA and SEMA for building projects, though millions of dollars in "errors and omissions" have yet to be approved by the government agencies.
Joplin School District has to pay P1 Group $2.5 million by Tuesday
Joplin R-8 School District reaches settlement with P1 Group