Board approves budget amendment and adopts 2025–26 budget resolution; fund balance projected to fall

The Wayne County Board of Education approved budget amendment No. 2 for fiscal year 2024–25 and adopted a budget resolution for 2025–26 that sets total appropriations at $205,350,411.

Finance staff presented the amendment to state public school funds (+$256,801.08 to an amended total of $154,600,165.52), federal grant funds (+$126,844.95 to $40,791,283.37), local capital outlay funds (+$30,000 to $4,910,929), and other local current expense funds (+$553,283.50 to $10,867,649.32). The presenter said the grand total for all funds after the amendment is $252,520,800.25 for fiscal year 2024–25.

For 2025–26 the budget resolution sets state public school funds at $142,393,812 and total appropriations across funds at $205,350,411. The resolution also itemizes local appropriations, federal grants and fund balance appropriations across funds, including a $677,750 fund balance appropriation and specific capital outlay revenue estimates.

Finance staff warned the board the state is now funding "in arrears," adjusting allocations based on the best 1 of 8 ADM (average daily membership) and that change contributed to a roughly $12 million difference in state funding compared with the prior year. The presenter said the district began FY2024 with an audited fund balance of about $19.8 million and projected that, after current appropriations and expected payables, the fund balance could fall to roughly $10.2 million at year end. "The state is now doing funding in arrears," the presenter said, explaining how the new calculation affects revenue timing.

Both the amendment and the budget resolution were approved by the board.