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Midland ISD finance update: administration recommends budget amendment; CFO projects a $4.1M surplus under current assumptions
Summary
MISD finance staff presented Budget Update #3 and recommended Budget Amendment No. 9 (cross-functional transfers including GASB-96 entries). The board approved the amendment unanimously; staff projected a $4.1 million surplus contingent on enrollment, recapture, and insurance performance.
The Midland ISD Board approved Budget Amendment No. 9 after a detailed financial briefing from district finance staff.
Finance director Mr. Durham told trustees the amendment chiefly moves cross-functional transfers and records proceeds from 'right-to-use' lease assets per GASB 96; he described the amendment as net-neutral to the overall $7.89 million deficit the board had adopted earlier. Mr. Durham said the district is currently…
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