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North Marion SD 15 board hears finance update showing $500,000 projected transportation overrun
Summary
A district staff member told the board the district is projecting transportation costs of about $2.8 million, which could create a roughly $500,000 budget overrun; the report also flagged a $126,000 shortfall in beginning fund balance and an 8-student enrollment decline.
North Marion School District 15 board members were told at their meeting that transportation costs and reimbursement uncertainty could create a significant strain on the district’s budget.
A district staff member presenting the business-and-budget report said the October financials show the district’s budgeted beginning fund balance of $2,021,000 is likely to be closer to $1,895,000 — a shortfall of about $126,000. ‘‘At this point, our projections are that our transportation costs are going to come in closer to $2,800,000,’’ the staff member said, adding that projection could create ‘‘a $500,000 excess expenditure over budget.’’
The presenter warned reimbursement volatility could reverse some of the projection gains. ‘‘We are currently…
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