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Finance director presents amended budget, fund‑balance forecast and bond project updates
Summary
Finance staff gave the board an amended general‑fund budget reflecting revised state and grant revenues, capital outlay increases, and projected ending fund balance; bond project design and bidding updates were also reported.
Sarah (district finance staff) presented a budget update that compared the original fiscal‑year budget to the current amended projections and explained revenue and expenditure adjustments.
She said state retirement (MPSERS) contribution changes produced a net decrease in both revenue and corresponding expenditures (a wash) and that certain state grants (district transportation, mental health, and professional development lines) were being trued up to expected amounts with matching expenditures. She said GSRP funding and a…
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