Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Retained Fund Balance topic
No spam. Unsubscribe anytime.
School board adopts smaller retained fund-balance increase to offset inflation, votes 5-0
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 remaining unreserved fund balance returned to offset the FY26 tax impact.
Assistant to the superintendent Debbie Payne reviewed the two versions presented to the board. Version A would have added a larger amount to the retained balance and left a smaller unreserved return; Version B targeted a smaller retained increase (roughly equal to recent CPI changes) and a larger immediate return to reduce the tax-rate impact. Board members discussed fiscal prudence, potential future state funding risks (including education freedom accounts and special-education aid), and the desire to maintain flexibility for contingencies.
The board’s vote recorded all members in favor, and signed DOE-25 cover sheets for submission before the state deadline.
Why it matters: The retained fund balance is the district’s primary “rainy day” resource. The adopted figure balances protecting purchasing power and returning funds to reduce near-term tax impact; it also sets an administratively reported figure that feeds final tax-rate calculations.
