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Business manager says cyber-charter tuition drove $5M swing; unassigned fund balance falls to roughly 3.5%
Summary
Keystone Central's business manager told the board that a sharp increase in cyber-charter tuition was the primary driver of a drop in the district's unassigned fund balance from about $19 million to $14 million, shrinking the unassigned percentage from roughly 8.7% to about 3.5% for 2024'25.
Joni (Jody) McIntyre, the Keystone Central School District's business manager, presented the district's 2024'25 year-end financial report at the board's Dec. 4 session.
McIntyre said expenses exceeded the 2024'25 budget by roughly $4.4 million while revenues ran about $1.6 million higher, leaving a budget-to-actual gap of about $2.7 million. She identified an unexpected rise in cyber-charter tuition costs as the largest single driver: roughly $3.6 million of the $4.4 million overage was attributable to higher-than-anticipated cyber-charter tuition and related…
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