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Milan Area Schools holds first reading of 2024–25 general fund budget amendment; projects fund balance decline
Summary
The board received a first reading of a proposed amendment to the 2024–25 general fund budget that raises revenues and expenditures (largely grant-related and staffing costs) and projects a year-end fund balance of about $1.9 million (5.37%). Sinking fund receipts will not arrive until the next fiscal year, the administration said.
Milan Area Schools officials presented a first reading Jan. 14 of a proposed amendment to the district’s 2024–25 general fund budget that increases anticipated revenue and expenditures and results in a lower projected fund balance at year‑end.
Why it matters: The amendment reflects state aid adjustments, grants, contract settlements and one‑time donations; it also raises questions about short‑term cash flow and repair scheduling because sinking‑fund receipts will not appear in this fiscal year.
Administration summary - Finance director Krista Hendricks told the board she is proposing an increase in revenues of about $2,200,000 and an…
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