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Rockford board approves budget amendments, projects $535,000 surplus for FY25
Summary
The Rockford Area Schools board unanimously approved quarter‑2 budget amendments that raise revenue projections and add staffing, moving the district from a projected deficit to a projected $535,000 surplus for fiscal year 2025 and an ending fund balance of about $6.3 million.
The Rockford Area Schools Board of Education voted unanimously Feb. 19 to approve amendments to the district’s fiscal‑year 2025 budget after a quarter‑end review that showed stronger‑than‑expected revenues and some line‑item expense increases.
CFO Bridget Peterson told the board the Q2 report (quarter ended Dec. 31, 2024) shows timing effects in some funds but generally healthy finances. “Tax revenue collections are at about a 114%,” Peterson said, noting that some receipts are held in the general fund and later distributed at year end. Using an updated adjusted daily membership (ADM) of 1,532 students, Peterson asked the board to increase revenue projections by roughly $933,349 for FY25, including an estimated $200,000 increase in special education revenue and about $49,000 in smaller federal line items. She also asked the board to revise interest earnings upward to about $345,000.
On the expense side, Peterson requested reclassifications and modest increases — primarily an additional literacy coach and other staffing and extra time allocations that together raise salary and benefit lines by approximately $138,675, along with increases in software‑licensing and technology supply budgets. After the adjustments (an expense increase of roughly $220,000 against the revenue revisions), Peterson said the district’s projection moved from a previously forecasted deficit into a roughly $535,000 positive position and an estimated ending fund balance near $6,300,000.
Board members asked clarifying questions about revenue timing and fund accounting; Peterson said some variances reflect delayed invoices and that she will present more detail in the budget revision packet. The board then voted to approve the fiscal‑year budget amendments for quarter 2; the motion carried unanimously.
What’s next: Peterson said the packet contains the line‑by‑line recommendations and that she will request formal budget amendments to reclassify specific UFARS accounts where actuals and budgets do not align. Any further adjustments will return to the board for action.
