Centennial board approves dedicated classroom curriculum and student furniture fund, directs 1% of state allocation

The Centennial School District Governing Board voted unanimously Jan. 8 to direct the administration to establish a dedicated classroom curriculum and student furniture special revenue fund beginning in the 2024–25 budget year.

Director Sotherton presented the proposal, saying the district’s prior approach — a general fund annual allocation that does not roll from year to year — led to unpredictable swings when large curriculum adoptions or widespread furniture replacement were required. Under the new plan, the district will designate as the fund’s primary revenue source approximately 1% of the district’s state school formula grant allocation each year, and will also deposit revenue from the sale of surplus minor property into the fund. Sotherton cited GASB Statement 54 as the accounting standard that requires special revenue funds to have…