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School board hears budget update; finance staff say earlier deficit figure was premature
Summary
Finance staff told the board that a widely reported $4.5 million shortfall was premature because of differences between county cash accounting and school-division accruals, outstanding reimbursements and reversal of accruals; the division now expects carryover funds and presented budget risks including transportation and an impending minimum-wage increase.
Finance staff provided an update on the FY24–25 closeout and on budget risks for the upcoming year, saying the $4.5 million shortfall reported externally did not reflect accruals and outstanding reimbursements and that, after adjustments, the division expects carryover rather than a large deficit.
Miss Tuttle said some federal and state reimbursements (largely payroll-related) were still outstanding at…
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