The Iowa City Community School District’s School Board is planning to review a previously undisclosed $10 million interfund transfer at its upcoming meeting on Feb. 10, of which the board previously had no knowledge.
An interfund loan is a transfer of funds from one account to another.
In a school board meeting on Jan. 27, board members approved a fund transfer of $10 million made in August 2025. Board members raised concerns about the transfer, saying they were unaware of this transfer and had been making financial decisions with no knowledge of the $10 million difference in available funds…