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Canyon City Schools reports midyear budget shortfall, board approves amendment
Summary
Chief Financial Officer Heidi Anderson told the board the district faces a $661,028 midyear deficit and a roughly 25% fund-balance; the board approved a formal amendment to the 2024-25 budget at the meeting.
Heidi Anderson, chief financial officer for Canyon City Schools (Fremont Re-1), told the school board on Jan. 27 that a midyear revision to the district’s budget shows revenues of $39,915,287 and expenses of $40,576,315, producing a deficit spend of $661,028.
The midyear presentation, which Anderson said reflects a December/January “true up” from the Colorado Department of Education and audited prior-year numbers, flagged a net program reduction of $272,667 and changes in allocations and categoricals that increased state revenue slightly while reducing local revenue by about $1.3 million. "We have $39,915,287 for revenue, $40,576,315 in expense. And that deficit spend…
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