Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Adoption topic
No spam. Unsubscribe anytime.
McCreary County Board approves 2025-26 working budget; staff to submit to KDE
Summary
Board approved the 2025–26 working budget, which includes roughly $17 million in SEEK funding, about $1.45 million in local tax revenue retained in the general fund, and a general fund ending balance reported at about $9.968 million; staff must submit the budget to the Kentucky Department of Education.
The McCreary County Board of Education approved its 2025–26 working budget at the Sept. 23, 2025 regular meeting and instructed staff to submit the document to the Kentucky Department of Education.
Staff presenter Miss Koval reviewed key figures: anticipated SEEK (state) funding of roughly $17,000,000, approximately $1,450,000 in local tax revenue retained in the general fund, and an ending general fund balance reported as $9,968,000. She said first-quarter state grant disbursements were received in special revenue funds and that food-service reimbursements totaled $166,000. Koval also summarized other funds: capital outlay revenues of $225,000; building fund state revenues of $999,000 plus a local property-tax match of $364,000 that will be transferred to the debt service fund for bond payments; and food-service expenditures to reflect current staffing and food costs.
Board members discussed timing for required submission; one member noted the budget must be filed with KDE before an upcoming deadline. A board member moved to approve the 2025–26 working budget; the motion was seconded and approved by members present.
The working budget includes a contingency of approximately $1,425,000 (about 5% of general fund expenditures) and represents initial allocations that the board may revisit as actual revenue figures are finalized. Staff said special revenue funds are budgeted on a zero-based basis, with revenues offsetting expenditures in the fund.
No further action on budget amendments or specific contract awards was taken at the meeting; the board approved the working budget and moved on to other items.
