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Silver Creek board hears second-quarter finances; education fund holds just under $6 million
Summary
At its July 15 meeting at Silver Creek Elementary, district finance presenter Doctor Balmer reviewed second-quarter results, explained appropriations and warned of state-driven revenue changes tied to Senate Bill 1 and enrollment counts.
At the July 15 Silver Creek School Corporation board meeting at Silver Creek Elementary School, Doctor Balmer, a district staff member who presented the finance update, told the board the district entered the 2025 budget year with an education fund beginning balance of about $6.3 million and that education fund revenues through the second quarter totaled about $12.8 million while expenditures were about $13.1 million. "An investment in knowledge pays the best interest, and we believe that here," Balmer said as he summarized the district's position.
Balmer said the education fund ending cash balance after the second quarter was “just shy of $6,000,000” and that one-time payments — chiefly about $300,000 for a math textbook adoption moved into the education fund under a state mandate — inflated second-quarter expenditures. He said about 98% of education-fund…
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