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Monongalia County Schools board approves FY2025 financial statements; district transfers $9 million to capital fund
Summary
The board approved audited financial statements for year ending June 30, 2025, noting key figures: general fund revenues of $180.8 million, property tax revenue of about $87 million, and a $9 million transfer to the permanent improvement fund to support capital projects.
The Monongalia County Board of Education voted on Oct. 14 to approve the district’s financial statements for the year ended June 30, 2025.
District business staff presented fund balances, revenues and expenditures and noted that the general fund recognized total revenues of $180,783,224 and that property tax receipts accounted for roughly $87 million of that total. State aid recorded in the presentation was roughly $84 million. The district reported that it transferred about $9 million from the general fund into the permanent improvement fund to support capital projects; staff emphasized that once moved into the permanent improvement fund those dollars are restricted and cannot be returned to operating funds.
Nicole (business department staff) walked the board through the fund balance snapshots in the packet: general current expense assets were reported at about $62.5 million, special revenue (federal and state grant funds) about $7.3 million, school activity funds roughly $3 million and permanent improvement about $24 million. The general fund showed an unrestricted and assigned fund balance of about $8 million, consistent with the district’s 5% reserve requirement.
Net changes in fund balances included a $1.8 million increase in the general fund and a $1.5 million increase in the special revenue fund; the district also had a carryover in the excess levy and staff said that money will fund summer programming for 2026. Business staff noted that 59% of general fund expenditures were for instruction, 13% for operations and maintenance, and 9% for student transportation; 80% of expenditures by object were salaries and fringe benefits.
The board discussed levy and funding issues, including the district’s excess levy categories and carryover rules, and potential future budget impacts from enrollment trends and legislative changes. Nicole noted that the district recognizes receivables and liabilities within 60 days of year end when preparing statements.
Superintendent Dr. Campbell recommended approval and the board approved the financial statements by voice vote.
Less critical details: the packet listed completed and planned permanent improvement projects, outstanding bond balances and that the district receives federal funds mostly in the dedicated fund (fund 61) for Title, IDEA, Head Start and child nutrition programs.
