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School officials report year-end budget adjustments and project stronger fund balance than expected
Summary
Finance staff presented year-end amendments across state, local, federal and capital funds, reported an estimated fund-balance carryover of about $2.6 million and projected the district's fund balance to land near $4.3 million (5.5% of operating funds) after using an estimated $1.5 million.
Granville County Schools finance staff presented a year-end financial update and a package of budget amendments covering state, local, federal and capital funds; the board approved the amendments and a resolution allowing the superintendent to sign any final year-end adjustments required before June 30.
Key actions: The board approved budget amendments reflecting a $40,844 increase to state funds, a $394,521 decrease to federal-grant budgets (largely due to reversion of unused 21st Century Community Learning Center funds), and a reduction in capital outlay categorical funds of roughly $1,500,000 to reflect the county allocation, bringing capital outlay to about $4,200,000.
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