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Board adopts FY25 budget amendment after lengthy discussion of state 3% reimbursement to employees
Summary
The board unanimously adopted a FY25 general fund second budget amendment. Finance staff highlighted a stronger cash position and a $2.5M state reimbursement (the '3%/1.47g' payment to employees) that raised questions about timing, taxable treatment and partial reimbursement rates.
The Ann Arbor Public Schools Board of Education voted unanimously to adopt the fiscal year 2025 general fund second budget amendment after a detailed presentation and trustee questions on March 17.
Finance staff told trustees the district is in a stronger cash position than a year ago, with February showing roughly $16.2 million more cash and investments than the same date last year and a projected addition to fund balance of about $40.5 million as of Feb. 28 (subject to year‑end timing and payroll adjustments). Consultant Casey Zaski and finance director Darcy Franckor reviewed…
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