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Board raises fund-balance target to 18% amid state and federal revenue uncertainty
Summary
After a detailed five-year forecast presentation, the North Kansas City Board of Education voted to increase its operating fund balance goal from 16% to 18% (plus or minus 2.5%), citing volatility in state foundation formula changes and federal funding levels.
The North Kansas City Board of Education on March 4 reviewed a five-year financial forecast and approved adjusting the district's operating fund-balance target from roughly 16% to 18% (plus or minus 2.5%).
Finance director Matt Fritz presented the forecast and described assumptions used for revenue and expenditure projections, highlighting uncertainty tied to state and federal revenues. Fritz said the forecast incorporates the governor's proposed budget, the state's foundation formula changes, and other assumptions on assessed valuation, enrollment and known cost increases.
Fritz told the board that the state foundation formula…
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