Radford board approves amended 2024–25 budget; discusses state bonus and reserve fund gesture to city

The Radford City Schools Board approved an amendment to the current fiscal-year budget to reflect increased state funding and to cover near-term expenses the division must pay before the state disburses some funds.

Finance staff member Miss Long presented updated fund balances through March and noted several funds were over 50 percent expended because the division is past the third quarter of the fiscal year. The amendment reflects changes across multiple funds, including increased state textbook funding.

Board discussion noted an anticipated $1,000 staff bonus that must be paid in June and therefore will be funded from the current fiscal-year budget rather than next year’s state allocations. A board member described the timing challenge: if the bonus were due in September it would be state-funded, but because it is required earlier the division must absorb the payment now.

The board also discussed a proposal to offer $500,000 from the division’s reserve capital fund to the city to help reduce municipal debt; board members characterized the gesture as one of goodwill while noting the capital fund’s purpose is to address facility needs and unexpected expenses (examples cited included a potential $50,000 concession-stand roof at Bobcat Stadium).

Board materials referenced a $33,000 local match that staff said would leverage approximately $250,000 in outside funds for technology and safety purchases; staff said they are prioritizing non-recurring purchases rather than committing to recurring expenses.

A motion to approve the amended budget was moved and approved by voice vote; the transcript does not show a roll-call tally.