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District finance staff detail FY25 amendment and propose raising fund balance target to 10–15%
Summary
Finance staff briefed trustees on an FY25 budget amendment that reflects state revenue reductions offset by local tax gains and audit updates to beginning fund balance; staff proposed gradually increasing the general fund balance target toward 10–15% to build a larger rainy‑day reserve.
District finance staff presented a short budget amendment and a recommendation to raise the district’s long‑term fund balance target. Staff said updated audit results and local tax growth change prior estimates but that state aid reductions and program shifts reduced net revenue compared with the adopted budget.
Finance director explained that earlier short‑term borrowing was repaid in December,…
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