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Lowell Area Schools board adopts general-fund amendment, allocates $1.5 million from reserves
Summary
At its Jan. 12 meeting the Lowell Area Schools Board approved a winter general-fund budget amendment that uses about $1.5 million of fund balance, updates revenue estimates and sets an appropriation that would allow purchase of up to five buses if the board later approves purchases.
The Lowell Area Schools Board of Education on Jan. 12 approved a winter amendment to the district’s general-fund budget that uses roughly $1,500,000 of fund balance and leaves an estimated ending fund balance of about $9,700,000, or roughly 18% of expenditures.
Board members voted to adopt the amendment after a presentation from the district budget presenter, identified in the meeting as Miss Hodge, who told trustees the district is working with revised enrollment and revenue assumptions. "We are using about $1,500,000 of fund balance in this budget amendment," Miss Hodge said during the presentation.
The amendment reflects updated estimates including a blended enrollment of 3,443 students (a decrease of 25 from prior counts), a state foundation allowance set at $10,050 per pupil (an increase of $442 per student), a placeholder…
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