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Iredell-Statesville CFO outlines $267 million budget, warns of fund-balance pressure
Summary
CFO Adam Steele presented a $267 million budget resolution that budgets a larger draw from fund balance than last year and reflects a smaller county funding increase than requested; board members pressed for long-term solutions and noted state funding and special‑needs costs as key challenges.
Adam Steele, the district chief financial officer, presented the 2024–25 budget resolution to the Iredell‑Statesville Schools Board of Education, saying the resolution the board was being asked to approve set total spending at about $267,000,000 and included local budgeting that relies more heavily on fund balance than last year.
Steele told the board the district “started with over $5,000,000 anticipated to be budgeted out of fund balance,” and that the version presented for approval reduced that planned drawdown to roughly $2,400,000. He said the district originally requested a 14.81% increase from the county but received a 2.7% increase instead.
Why it matters: Board members and administrators said the…
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