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Lake Forest board hears strong July 1 financial snapshot, approves FY2026 preliminary budget
Summary
Board was presented with a July 1 financial position report showing about $8.0 million in discretionary local funds and approved the district's FY2026 preliminary budget. Finance staff said the district exceeds the Delaware one-month payroll reserve threshold and highlighted potential future pressure from state equalization changes.
The Lake Forest School District Board of Education on Aug. 28 approved a financial position report showing approximately $8,000,000 in discretionary local funds as of July 1 and unanimously approved the district's preliminary fiscal year 2026 budget.
The board voted 5 0to00 to approve the preliminary budget and the financial position report after a presentation by the district's finance staff. The presentation described the July 1 report as a required snapshot under Delaware law and the starting point for statutory submissions to the Delaware Department of Education.
The presentation noted the district's discretionary balance rose from about $6.4 million the prior July 1 to roughly $8.0 million,…
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