Stillwater board approves 2024–25 budget revision; finance director projects modest fund-balance increase

The Stillwater Area Public Schools board approved a budget revision for fiscal year 2024–25 after a presentation by the district finance director that updated revenues, expenditures and projected fund balances across general, food service and community service funds.

Why it matters: The revision adjusts revenue upward across several restricted funds and updates projections for carryover and grant activity; staff said the district’s projected unassigned general-fund balance would increase slightly under the revised assumptions.

What the board heard: Finance director Marie (last name not specified in transcript) summarized changes that together increased total revenues across affected funds by roughly $4.0 million and increased projected expenditures by smaller amounts in those funds. Major revenue changes included additional school-readiness seats, larger-than-expected state endowment distributions, adjustments in categorical aids tied to enrollment, updated county apportionment for property tax levy receipts and several large donations intended for specific programs or facilities. The food-service fund gained revenue from increased state aid tied to universal free school meals and federal reimbursement; community-services revenue rose largely from school-aged care and facilities rentals.

On the expenditure side, general-fund increases reflected new and clarified grants (partnership plan, Pathways, Read Act-related items), planned summer programming and site-level adjustments. Food-service expenditures rose primarily for salaries/benefits, food purchases and supplies. Community-service increases were concentrated in school-aged-care staffing.

Marie told the board the auditors expect the revision and that carryover and donation adjustments are consistent with prior practice. She projected a projected general-fund unassigned fund balance of about 1.2 months of operating costs (a modest improvement over the prior target) after accounting for restricted carryovers and planned operating capital.

Board action: The board voted to approve the 2024–25 budget revision following questions from members about federal carryover and food-service capital purchases. The vote passed; the motion and second were made on the record. No roll-call tallies were recorded in the public transcript.

Ending: Staff said the district will continue monitoring federal grant notices, enrollment changes and donation timing and will report audited results once year-end statements are finalized.