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Randolph County Schools warns of budget shortfall and a near-$93,000 jump in liability insurance premiums
Summary
Finance staff reported accounting changes spreading textbook PO costs, a likely $1 million budget shortfall in best-case projections and a sharp rise in BRIM liability insurance to roughly $485,000 (an increase of about $92–93k), prompting calls for special meetings to finalize the FY25 budget.
Finance staff told the board the district faces immediate budget planning challenges, including a large insurance premium increase and accounting changes that spread textbook purchases across several fiscal years.
Committee member (S3) explained accounting changes tied to ‘‘Step 7’’ funding and how textbook purchases are being broken into multi-year purchase orders, which affects how costs appear across fiscal periods. He said the accounting change “has kind of changed things…
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