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Morton finance staff presents preliminary FY26 budget; auditors on site as district plans capital spending
Summary
Finance presenter Lisa Kowalski reviewed preliminary FY25 actuals and a proposed FY26 budget, citing carryovers on capital projects, planned transfers from working cash, and uncertainties in state reimbursements; a public hearing and board action are planned in September.
Lisa Kowalski, the district finance staff member, presented a preliminary look at fiscal year 2025 actuals and the proposed fiscal year 2026 budget, saying the numbers are “preliminary” while auditors work on the fiscal reports. She told the Board of Education that final audited figures may change slightly but that the presented totals are “very, very close.”
The presentation summarized where FY25 budgeted figures diverged from actuals and how that will affect FY26 planning. Kowalski said the district budgeted to use $431,000 of education fund reserves but ended up using $175,000. She said capital projects commonly carry over into the next fiscal year because the district’s fiscal year ends June 30.
Kowalski described larger carryovers in the operations and maintenance (O&M) fund, noting she had expected to draw $1.6 million but…
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