Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Adoption topic
No spam. Unsubscribe anytime.
Bentonville board adopts $2526 operating budget, moves $17 million to building fund
Summary
The board unanimously adopted the FY2025–26 operating budget and approved transferring $17 million from operating to the building fund to cover capital projects without raising millage; the board also approved a special election procedure for the required millage vote after statutory changes.
The Bentonville School District Board of Education unanimously approved the district’s FY2025–26 budget and a $17 million transfer from the operating fund to the building fund at its Aug. 19 meeting.
Dr. Janet Swanhauser presented the budget rationale, citing three primary drivers: student membership (3‑quarter average daily membership), state foundation funding ($8,162 per student this year) and assessed property values. The presentation showed operating fund revenues of about $265.2 million and expenses of about $255.9 million, leaving a projected surplus of roughly $9 million.
"Part of what we're going to ask you to do when you approve the budget this evening is to take $17,000,000 in savings from the prior year from the operating fund and move it to the building fund," Swanhauser said, explaining that the district intentionally saves year‑to‑year for capital projects so it can complete work without increasing millage.
The board first voted (Item 6d, part 1) to transfer $17,000,000 from the operating fund to the building fund; the motion passed unanimously. The board then voted to approve the FY2025–26 budget (Item 6d, item 2) after questions about construction‑cost inflation and ADM funding timing; that motion also passed unanimously.
Swanhauser outlined other fund details: the building fund beginning balance estimate ($26.2 million), Fund 5 capital outlay (supported by a 1.9‑mill voter‑approved levy for buses, technology and maintenance), federal grants (Fund 6) and activity accounts (Fund 7). She said fund projections are subject to revision when the capital plan is reviewed in October and noted the district anticipates moving additional savings at fiscal year close.
Because Act 503 changed how fall school elections are held, Swanhauser said the district will call a special election to meet the Arkansas Constitution’s Article 14, Section 3 requirement for a millage vote. The district’s resolution asks the election commission to appoint a single qualified elector to cast the vote; the board approved the proposed budget and the resolution to call that special election (Item 6e).
The board also approved routine finance items at the meeting, including authorizing designated signers for district business, approving electronic transfers of funds for vendor payments (highlighting fraud‑limiting measures and rebate programs) and approving personnel recommendations after executive session.
