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District finance lead: adopt preliminary budget at Act 1 adjusted index; state budget uncertainty reduces interest revenue
Summary
Finance staff presented the Act 1 adjusted index cap (4.5% this year) and proposed a resolution to adopt a preliminary budget not to exceed that index; staff also warned that the state's delayed budget reduces interest revenue and agreed to produce a plain‑language reserves explainer for the public.
Chris (S11), the district finance lead, told the board the district cannot exceed the adjusted Act 1 index this year and recommended placing a resolution on the Oct. 25 voting agenda to adopt a preliminary budget that does not exceed the index.
“This year we cannot exceed 4.5%,” Chris said, explaining…
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