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Two Rivers board approves end-of-year budget revisions, earmarks $600,000 for building project
Summary
Board approved June referendum bills and end-of-year budget revisions that increase revenues by about $478,578; the district will place $150,000 into a capital improvement trust for a high-school roof, deposit $50,000 into an employee benefit trust and earmark $600,000 to be applied to building project costs.
The Two Rivers Public School District board on June 21 approved end-of-year budget revisions and the payment of June referendum bills, moving to position district funds for upcoming construction draws and state aid.
Mary Kaye presented the revisions, reporting an aggregate revenue increase of roughly $478,578 from multiple sources: Medicaid reimbursement (+$216,107), open-enrollment receipts (+$37,779), interest income (+$90,000) and several categorical grants including a digital mapping grant and CTE incentive funds. The district also received federal-era ARPA funding for homeless children and youth that will cover some busing costs.
On the expenditure side, the board approved a $150,000 deposit to the long-term capital improvement trust to help pay toward the high-school roof, a $50,000 deposit to the employee benefit trust, and a plan to set aside $600,000 in operating funds to be applied against building project costs so the district can realize state aid in the next fiscal year. Mary Kaye said the district fund balance stands at $6,618,002.58.
The board first voted to pay referendum bills totaling $2,160,998.98 (motion carried). The subsequent motion to approve the budget revisions was conducted by roll call. The recorded votes were: Mister Peterson — yes; Mister Clinkton — yes; Mister Shavlik — yes; Mister Williams — yes; Missus Brandt — yes. The chair announced the motion carries and the revisions are approved.
Board members discussed being strategic about fund balance levels because state aid is calculated based on reported spending; Mary Kaye explained that applying the $600,000 against building costs next year helps capture state aid rather than hold excessive balance now.
No formal amendments to the motion were recorded.
