Board approves midyear budget revisions; estimates $1.3M drawdown in general fund

The Roseville Area School Board voted Jan. 29 to approve midyear budget revisions for the 2024‑25 fiscal year, adopting revised revenue and expenditure estimates and describing an expected drawdown in unassigned general fund balance.

Director of Business Services Sherry Thompson summarized the midyear adjustments. The district’s audited beginning fund balance (July 1, 2024) was reported as $15,593,000. General‑fund revenues were revised upward overall by about $2.03 million to approximately $189.4 million (reflecting higher state aid in some categories and other adjustments), while expenditures were revised upward to about $130.4 million. Thompson said the district now expects to draw down unassigned general‑fund balance by roughly $1.3 million this fiscal year, leaving an estimated unassigned balance near $14.27 million at June 30, 2025.

Key drivers: Thompson told the board the revenue increase reflected factors such as higher state special education aid and other state funding increases, while expenditure increases included higher salary and benefit costs (final staffing and negotiated agreements) and substantial increases in contracted transportation costs — notably specialized special‑education transportation.

Context and sustainability: Board members and staff discussed how the district intends to use reserves for planned capital and maintenance (including nutrition services kitchen upgrades funded from the food service fund) and to maintain a prudent fund balance consistent with board goals. Thompson said the district remains above its minimum fund balance target (the district’s stated target is a minimum percentage; unassigned balance remains above that minimum) and staff will present multi‑year projections and budget parameters for the coming year.

Vote: The board moved, seconded and approved the revised 2024‑25 budget as presented by voice vote.