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District finance chief reviews audit, fund balances and state funding uncertainties ahead of budget workshop
Summary
BASD finance staff presented FY24–25 audited results showing about $10M more local revenue than budgeted, an improved general fund balance, use of $5.7M to balance the current year, and cautioned that state and federal funding timing and enrollment trends will shape the March budget workshop and final June 8 budget.
The Bethlehem Area School District’s finance presentation on Feb. 9 reviewed audited FY24–25 financial results and preliminary projections for next year. Mr. Ristakasian led the briefing, saying local revenue exceeded budgeted expectations by roughly $10 million and overall revenue finished about 3.8% higher than planned. He reported that the district used approximately $5.7 million to balance the current year and that the unassigned fund balance sits just over the district policy target of 5%.
Ristakasian noted several revenue variances that affected results, including…
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