Harmony Public Schools board approves second 2024–25 budget amendment, reports $9.48 million positive change

The Harmony Public Schools Board of Trustees on March 22 approved a second amendment to the district's 2024–25 budget, with staff reporting an overall positive change in net assets of about $9,480,000 for the fiscal year.

Board President opened the meeting and, after discussion in the finance committee, called for a motion to approve the amendment; a motion was made and seconded and the amendment was approved. No individual roll-call votes were read into the record for this item.

The district's finance presenter told the board the quarter-two figures (Oct. 1'Dec. 31) show a $2.7 million reduction in state aid tied to changes in average daily attendance for that period. That drop in state aid was partially offset by expenditure reductions, the presenter said.

Staff told trustees the amendment also moves $15 million in donation revenue for construction from the miscellaneous fund (Fund 490) into the general fund (Fund 420). Interest revenue was reduced by about $515,000 for the year. Federal grant and donation revenue rose by about $8.9 million, primarily because the replication grant increased by $8.2 million to fund furniture and electronics for new campuses scheduled to open next year, the presenter said. Other changes reported for quarter two included an increase of about $2.4 million for the Stronger Connections grant, $1.7 million for an existing safety grant, and about $1.1 million in child nutrition revenue and expenditures. Philanthropic donation revenue decreased by about $5.5 million year-to-date as projects shifted between fiscal years.

The presenter summarized all-funds revenue for quarter two as approximately $598.5 million, which includes the foundation school program portion reported at roughly $473.9 million; the presenter said the quarter-two change in net assets is approximately $9,480,000. Staff cautioned trustees that quarter two can show the largest adjustments because payroll and revenue forecasting becomes more certain at that point, and noted only small changes are expected in the next quarter.

A board member asked about a line item described as a "charge." The presenter explained that referred to Medicaid reimbursement for services Harmony provides; the state had changed the federal reimbursement calculation and the district is participating in an appeal. The presenter said the district expects any related revenue change to be resolved through that appeal.

The board approved the amendment after discussion and after the item was presented previously at the finance committee. No formal amendments to the motion were recorded.