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Isle of Wight schools project small surplus for FY25; health insurance claims exceed contributions
Summary
Preliminary fiscal-year-2025 numbers show the general fund may exceed its revenue budget by about $175,000 and staff projects a $1.6 million transfer to the health insurance fund after higher-than-expected claims.
Finance staff presented preliminary fiscal-year-2025 financial results at the July 10 meeting, reporting a small projected revenue surplus and higher health-insurance claims than planned.
Finance presenter Miss Deberry told the board the general operating fund was budgeted at $80,740,000 and that staff currently project revenue will exceed that budget by roughly $175,000; the excess would be returned to the county. Deberry said the division received about $70,000 more than budgeted from…
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