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Raleigh County Board reviews FY2024–25 finances, approves carryover and routine business
Summary
The board received the FY2024–25 financial report showing a $3.4 million deficit and an $88.8 million ending fund balance, approved the FY25–26 carryover and the superintendent's personnel recommendations, and set transfers for capital and contingency reserves.
Mister Butcher presented the Raleigh County Board of Education’s FY2024–25 annual financial summary and said the district closed the year with total combined fund balances of $88,800,000 and an unassigned fund balance of $33,100,000.
The presentation noted total revenues of $187,700,000 against expenditures of $191,200,000, producing a deficiency of roughly $3,400,000. Butcher told the board that the overall fund balances decreased by about $3,400,000 primarily because of year-end technology purchases and accounting changes required by recently adopted GASB standards.
The report broke down major revenue and spending lines: property taxes ($52.4 million), state sources ($102.8 million), and federal sources ($23.2 million); instruction accounted for $122.6 million (about 64.1% of expenditures). The presenter also summarized district capital activity, noting approximately $12 million in capital asset additions and multiple School Building Authority grants earmarked for gym, lab and waterline projects.
Why it matters: board members said the district’s contingency reserve (15.03% of general fund expenditures) places Raleigh County in a strong position, but they flagged enrollment declines and reliance on federal COVID-era grants as risks for future years.
Votes at a glance: the board approved the FY24–25 annual financial statement, the FY25–26 carryover and a series of interfund transfers the presenter recommended (including transfers for permanent improvement, turf and track replacements, and HVAC replacement at the Academy of Careers and Technology). The superintendent’s personnel recommendations (with date and spelling corrections noted in the meeting) were also approved unanimously.
Board next steps: staff will move ahead with the designated transfers and monitor enrollment and grant funding trends that could affect future budgets.
