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Board approves amended fiscal 2024–25 budget and appropriations; district reports improved fund balance projection
Summary
The board voted to adopt the district’s amended fiscal year 2024–25 budget and all‑fund appropriation, incorporating updated enrollment counts, state program funding, bond issuances and a $342 million first debt issuance for capital projects; board approved the appropriation by roll call.
The St. Vrain Valley School District No. Re1J Board of Education on Jan. 22 voted to adopt the district’s amended fiscal year 2024–25 budget and all‑fund appropriation, a document the administration said incorporates updated enrollment, state funding adjustments, bond proceeds and one‑time items.
Justin Petrone, the district’s Executive Director of Budget and Finance, presented the amendment and said the revised plan reduces the projected general‑fund spend down to about $18.1 million (from an earlier estimate of $20.7 million) because revenue adjustments exceeded new expenditures. He described changes in revenue drivers including a small increase in funded pupil count and per‑pupil funding, a $1 million increase in interest earnings, roughly $2.5 million in additional categorical funding (special education, CTE and transportation), and a one‑time transfer from the building fund tied to a prior land purchase.
Petrone said the district also incorporated the first bond issuance for planned capital projects: approximately $342 million in new debt issuance (plus premium) for the district’s bond program and early repayment of about $81 million of existing debt in the bond redemption fund, a move the administration said saves about $7.6 million in future interest.
The amended appropriation totals roughly $1.4 billion across all funds, Petrone said; the administration said they will post the full budget document on the district website following the board’s action.
Board members asked about timing and public comment; Petrone said there had been no public comments on the amendment before the vote and that the board and finance committee had reviewed details at recent study sessions.
Motion and vote: A motion to adopt the amended fiscal year 2024–25 budget and all‑fund appropriation passed by roll call. Voting recorded: Mr. Berthold—Yes; Mrs. Babs—Yes; Mrs. Gilligan—Yes; Mrs. Hranick—Yes; Mr. Lechuga—Absent; Mrs. Ragland—Aye; Mrs. Weiss—Yes.
The action was approved; the administration said the complete amended budget will be posted on the district’s website and staff will continue to monitor performance against the amended plan.
