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Academy District 20 board adopts midyear budget updates, one-time staff payments and bond-sale parameters
Summary
At its Jan. 9 meeting the Academy District 20 board approved a midyear budget update that includes one-time staff payments, transfers to capital and reserve funds, and parameters to allow a first series of bond sales; the board also authorized negotiating the sale of a 5.75-acre parcel to the City of Colorado Springs.
The Academy District 20 Board of Education on Jan. 9 approved a midyear budget update that adjusts revenues and expenses for fiscal 2024–25, authorizes one-time staff payments and moves funds into capital and reserve accounts. Trustees also approved parameters for the first issuance of voter-approved general obligation bonds and authorized a purchase agreement to sell a district-owned 5.75-acre parcel to the City of Colorado Springs Parks Department.
Chief Financial Officer Becky Allen briefed the board on key midyear changes: the district ended the prior fiscal year with about $13.1 million more in unassigned fund balance than was budgeted, largely reflecting positions that went unfilled (about $9.7…
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