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Finance update flags health-insurance costs and budget uncertainties as ADM trends upward
Summary
Finance staff told the board it is halfway through the fiscal year with updated capital figures reflecting higher ADM; they warned of spiking health-insurance claims and noted roughly $1 million of prior one-time funding that will need restoration as budget planning continues.
The division's finance lead reported financial results through December and highlighted several items for the board to track as the budget process unfolds. The December capital update adjusted for higher fall Average Daily Membership (ADM) trends; if the higher ADM is maintained through the March 31 funding snapshot, administration estimated roughly $400,000 in additional state revenue for the current fiscal year.
Finance also flagged a recent spike in health insurance costs driven by increased enrollment in the division's…
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