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Finance update: budget revision boosts available balances; employee benefit trust to draw down reserves
Summary
The district reported increases in budget capacity from recent legislative changes that shifted available balances in operating and capital funds. Staff said a drawdown of about $4 million from the employee benefit trust fund is expected this year and that available balances will be in the $20 million range at year end.
Associate Superintendent Bonnie Betts presented a monthly financial update on Sept. 23 noting that budget revision number 1 — approved at a prior meeting — increased the district’s reported budget capacity and available balances.
Betts told the board that, following the legislative session, “the available balance in the maintenance and operations fund is now 4.2, which was 1.5 or 1.3 last month.” The…
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