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Referendum fund posts surplus as district reports preliminary 24-25 expenditures
Summary
District staff told the Independent Citizens Referendum Oversight Committee on July 17 that preliminary accounting for the voter-approved 1-mill referendum shows revenues above budget and a higher-than-expected ending fund balance, with leftover dollars rolling forward and charter-school repayment included in this year’s expenditures.
Ms. Bostonellis, staff presenting the referendum financial report, told the Independent Citizens Referendum Oversight Committee on July 17 that the voter-approved 1-mill ad valorem referendum (effective July 1, 2023, through June 30, 2027) produced revenue above the district’s 24-25 budget and that unspent funds will roll to the next year. The report said the district has received roughly 102.19% of its budgeted referendum revenue for 24-25 and recorded expenditures of about 84.35% of budget through the preliminary close. “This is a little bit over what we have budgeted,” Bostonellis said, noting late tax payments and…
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