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Orono finance director proposes modest reserve growth, enrollment and funding assumptions for 2024-25 budget
Summary
The Orono Public School District presented budget assumptions for 2024-25 that call for modest reserve rebuilding, a projected enrollment increase of about 30 students and planning around a 2.74% general education allowance referenced in recent legislative material.
Nick Tainter, the district's director of business services, presented budget assumptions the board will use to build the 2024-25 proposed budget, emphasizing the uncertainty of final state aid and legislative outcomes.
Key assumptions presented
- Fund balance goal: The district finished the prior year with a 5.1% unassigned fund balance and the revised budget target ended the current fiscal year at approximately 5.4%. Staff recommended planning to build reserves by at least 0.5 percentage points next year (with a multi-year goal of reaching roughly a 10%…
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