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Albany board reallocates year‑end fund balance, amends tax‑certiorari and capital reserves
Summary
The board approved an amended resolution reallocating surplus fund balance: the tax certiorari deposit was reduced and $2 million was added to a capital reserve to support future projects; the motion passed on June 4.
The City School District of Albany Board of Education on June 4 approved an amended year‑end fund balance transfer, reallocating surplus operating fund dollars into designated reserves.
District finance staff told the board the year‑end estimate was higher than earlier projections and moved to return excess above the 4% undesignated fund balance into reserve accounts. Board discussion focused on how much to hold in…
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