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Board approves preliminary 2025–26 budget for publication; finance staff flag TID closure and defeasance options
Summary
The Plymouth School Board voted to publish a preliminary 2025–26 budget; finance staff reported a projected $383,000 deficit, an audited fund-balance increase tied partly to a TID closure, and discussed using defeasance to smooth levy changes in coming years.
The Plymouth School Board on Thursday approved the district’s preliminary 2025–26 budget for publication and agreed to the corresponding budget adjustments for two recently reported gifts. Finance presenter Amy reviewed the district’s recap and the state’s new DPI publication form, saying the district projects a preliminary operating deficit of about $383,000 for 2025–26 but noted the district ended 2024–25 with a larger-than-expected audited fund balance after receiving TID closure proceeds. Key figures and actions - Consent and bills: Earlier in the meeting the board adopted the consent agenda and approved bills for 08/01/2025 through 08/31/2025 in the amount of $2,418,706.08 as part of routine business. - Budget vote: The board voted to approve the preliminary 2025–26 budget for publication. (Motion moved and seconded;…
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