Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Adoption topic
No spam. Unsubscribe anytime.
Adams 12 board adopts amended FY25–26 budget; override boosts fund balance by ~$31.8M
Summary
The board approved an amended FY25–26 budget after a presentation by CFO Gina Lanier showing a $47.3M revenue increase—chiefly $39.4M from a mill‑levy override—raising the projected ending fund balance by about $31.8M and leaving unassigned fund balance near 5% of general fund revenue.
The Adams 12 Five Star Schools board voted Jan. 21 to adopt the amended fiscal year 2025–26 budget and appropriations resolution after a presentation by Chief Financial Officer Gina Lanier.
Lanier said the amended budget incorporates a higher beginning fund balance (up about $8.2 million primarily from stronger interest earnings), updated revenue estimates and encumbrance adjustments. She said the district’s adopted budget increased total revenue by roughly $47.3 million, mostly because the 2025 mill‑levy override is expected to bring about $39.4 million in additional revenue; budgeted expenditures rose about $23.7 million and projected ending fund balance increased by about $31.8 million.
Lanier noted the district’s unassigned fund balance now sits near 5% of general fund revenue, inside board policy (minimum 4%, maximum 8%). She cautioned that some of the increase reflects monies that likely cannot be spent by June 30 and will be spent over the next two years tied to voter‑approved work.
Superintendent Chris and board members also discussed the unsettled legislative environment: pending economic forecasts will affect implementation of the new School Finance Act, and the governor’s proposal to reclassify about $8.1 million in specific ownership tax (SOT) revenue into the local share remains a risk. The board voted to adopt the amended budget; roll‑call votes were recorded as 'Aye' by the directors present and the motion carried.
