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District finance presenter: operating surplus before transfers, net deficit after construction transfers; interest and transportation affect bottom line
Summary
Corey presented a FY25 budget showing about $79 million in revenues and $74.8 million in expenditures (an operating surplus of roughly $4.2 million); after planned transfers to capital and debt certificates the net position is a projected $2.86 million deficit, and the board discussed lower transportation ridership and route reductions.
Corey, the district finance presenter, told the board the preliminary FY25 operating budget shows just over $79,000,000 in revenues and $74.8 million in expenditures, yielding an initial operating surplus of about $4.2 million. "So, our initial look at the surplus versus deficit is at 4,200,000.0," he said, then explained that after transfers out for construction and debt certificates the net position becomes a deficit of roughly $2.86 million.
Corey highlighted drivers of the changes. He said timely second-installment tax billings and current interest rates increased interest revenue, which…
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