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School board adopts smaller retained fund-balance increase to offset inflation, votes 5-0
5724790 · August 26, 2025
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Summary
The board voted unanimously to adopt version B of the DOE-25 retained fund-balance proposal, adding $95,186 to bring the retained fund balance to $2,332,065 and returning the difference to help offset the next year’s tax impact.
The Salem School Board voted 5–0 to adopt version B of the annual DOE-25 retained/unreserved fund-balance submission. Attorney Bernard Campbell moved the motion to add $95,186 to the retained fund balance to offset purchasing-power loss; Mike Carney seconded. The motion increased the district’s retained fund balance to $2,332,065, with the…
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