Peninsula School Board approves $5 million transfer, extends 2024-25 general fund to reconcile levy accounting

The Peninsula School District Board of Directors on July 15 approved a one-time budget extension for the 2024–25 fiscal year and a transfer of Safety, Security and Technology (SS&T) levy funds from the capital projects fund to the general fund to reimburse expenditures that did not meet capitalization thresholds.

The extension, adopted as Resolution 25-06, raises the district's 2024–25 revenue estimate to about $166 million and expenditures to about $171 million, leaving a projected ending fund balance of about $10.5 million, or roughly 6.1% of expenditures. The board approved a separate measure, Resolution 25-07, authorizing a transfer of SS&T levy proceeds — roughly $5 million — from the capital projects fund to the general fund to pay for technology and safety items already expensed in the general fund.

The transfer and extension are accounting measures tied to the district’s recent SS&T capital levy. Ashley Murphy, staff member, told the board that levy proceeds are deposited into the capital projects fund but that many…