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Committee outlines transfer to capital Fund 60 and timeline for FY26 amended budget
Summary
The Aurora East USD 131 finance committee reviewed a planned abatement and transfer to capital Fund 60, described a 60-day timeline for board action on April 20 and public hearing/approval steps that would culminate June 1, and explained related audit-driven adjustments to the FY26 budget.
The Finance & Personnel Committee of Aurora East USD 131 on a March evening reviewed a planned set of resolutions to move money into Fund 60 (capital projects) and a corresponding FY26 budget amendment timetable.
Dr. Michael Engel, presenting informational items to the committee, said the district will present two resolutions to the full board on April 20: an abatement of working cash and a transfer from Fund 20 (buildings and grounds) into Fund 60. The 60-day timeline he described calls for the tentative amended FY26 budget to be put on display beginning April 21, a public notice for a June 1 hearing, and adoption of the amended budget on June 1 if approved.
Engel said the transfer practice follows the same process used in 2024, noting that once money is placed in Fund 60 it generally must be expended for capital projects. He emphasized that moving more than 10% of a fund requires a formal budget amendment and that the two actions (abatement and transfer) are coordinated to meet statutory notice and public-display requirements.
As part of the amendment, Engel said beginning fund balances for FY25 will be updated to match the auditors' Annual Financial Report (AFR), and that transfers from Fund 20 and Fund 70 into Fund 60 will reflect audit adjustments. He also said the district will replace estimated evidence-based funding numbers with actuals; transcript material states, "The actual is $1.06 almost 163,000,000, and the budget was $1.68." The committee did not take formal votes; Engel said the board will consider the resolutions on April 20.
The committee had no public comments on the matter. The next procedural steps are the April 20 full-board presentation of the resolutions and the April 21 display of the tentative amended budget ahead of the June 1 public hearing and action.
