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Tecumseh finance staff outline budget amendment, project savings and enrollment impacts
Summary
Finance staff and the budget committee reviewed a proposed budget amendment covering revenue adjustments, program timing and projected fund balance; trustees were briefed on bond refunding, a S&P rating update and federal funding timing.
Trustee McGee, who presented the budget committee report, told the board the committee reviewed a bond-refunding that is out for bid and that the district expects taxpayer savings in the range of roughly $150,000 to $185,000; the refunding bid process opened at the end of January and results were expected in early February.
Kelly Glenn (identified in the meeting materials as presenting the budget amendment) walked the board through a proposed first budget amendment. Glenn said the amendment follows the state-required accounting-code structure and will be posted on the district budget-transparency page after board approval; this item was presented for discussion and will return for formal approval at the next board meeting.
Glenn said local revenue increased by an estimated $127,000 (driven by higher…
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