Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Board previewed District 39 tentative 2025 budget and proposed interfund transfers
Summary
District staff reviewed the tentative fiscal 2025 budget and associated routine year-end fiscal actions: treasurer's bond renewal, a capital projects fund transfer, an anticipated interfund transfer of up to $1.5 million from the Educational fund to O&M if needed, and a potential temporary loan from the Ed Fund to O&M not to exceed $2.5 million; these items will be included in next Monday's packet for formal board action.
District finance staff presented the tentative fiscal 2025 budget and a set of routine fiscal-year-end actions the board will be asked to consider.
Staff said the District 39 tentative budget was reviewed last month and that the board will be asked next Monday to approve it as a procedural step; the tentative budget will be on public display over the summer and staff expect many individual line-item changes before the final budget in August. Separately, staff presented the WICSI (Wixey) tentative FY25 budget, estimating $226,000 in revenues and expenditures and noting WICSI historically operates with revenues equaling expenditures and no fund balance.
The presentation included several recurring fiscal authorizations: an annual renewal of the treasurer's bond for the designated district treasurer; a resolution authorizing transfers from Operations & Maintenance to the Capital Projects Fund (the capital projects fund has no annual dedicated revenue source and is typically funded by interfund transfers); an interfund transfer from the Educational Fund to the O&M Fund of up to $1,500,000 to cover temporary cash shortfalls when property-tax installments arrive late; and a potential interfund loan (Ed Fund to O&M) not to exceed $2,500,000 similar to prior years. Finally, staff said a resolution will be presented to authorize payment of accounts-payable invoices for the two-month period from the June 10 meeting to the August 26 meeting because the board does not meet in July.
Staff said all of these items (treasurer's bond, transfer and loan authorizations, and the temporary accounts-payable resolution) have precedent and will appear in the next board packet for formal action and public display.
No formal votes were taken on these fiscal items during the committee meeting; staff invited questions and said the materials will be part of next Monday's packet.
