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Board reviews preliminary FY27 state and local aid; approves OPEB transfer and turf‑field reserve
Summary
At its Feb. 10 meeting Garrett County school officials presented preliminary FY27 state and local aid figures and the board approved two budget transfers: $143,008.47 to OPEB and $200,000 to a restricted turf-field capital fund (county approval also required).
District finance staff presented Garrett County’s preliminary FY27 state and local aid breakdown and warned that much of the increase is restricted and not available for general operating use.
Scott Felty said the district expects roughly 39% of the preliminary aid to be state-funded (reported state portion $23,348,338) and about 61% locally funded (presented local portion $36,672,867; a later figure in the presentation listed $36,672,008.67), for a total near $60,021,205. Felty noted a $1.8 million "hold harmless" amount was not included in that preliminary total and that program-specific increases—most notably a significant increase in pre‑K per‑pupil funding—are restricted to particular purposes.
On a separate agenda item, the board approved two budget transfers from fund balance after staff explanation: $143,008.47 to fund OPEB (reported as 5% of an actuarial contribution of $2,869,732 ending 06/30/2025) and $200,000 to a restricted capital outlay account for turf‑field replacement (bringing the restricted balance to approximately $400,000 if county commissioners also approve). The superintendent and finance presenter emphasized that the district relies on fund balance for one‑time expenditures and faces ongoing pressures from salary and health‑insurance increases.
The board approved these transfers and staff noted such transfers will also require county‑level approval before funds are expended.
