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Board hears budget preview: Act 1 index released, audit progress reported
Summary
Finance chair reported the Act 1 base index (3.5%) and adjusted rate (4.7%), said the district is finishing the audit and will circulate a variances report for 2024-25, and asked board members to submit items for a focused budget committee meeting.
Mister White provided a budget-and-finance update to the board, noting the Act 1 base index is 3.5% and the districts adjusted rate is 4.7%. He said the district is still finalizing the audit for 2024-25 and expected to circulate a variances report showing how actuals compared with budgeted figures. White asked board members to provide three to five items they want examined so the budget finance committee meeting can be focused and productive.
White said the packet he prepared breaks revenues into major line items and shows expenditures both by object code (salaries, benefits) and by program (regular, library, nursing, business office), and that the materials will include both percentage and dollar-amount changes to help members prioritize review.
The board agreed to schedule a budget finance committee meeting after members review the variances report; no formal budget decisions were taken at this meeting.
