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Board reviews finances: $400K carryover, upcoming bond payouts and small benefit-rate adjustments
Summary
District leaders reported an estimated carryover of more than $400,000, two combined bond payments of roughly $700,000 due in March, and recommended modest benefit-rate changes: a $1/$2 vision increase and a 2% medical premium rise; the board approved the recommendations.
District finance staff told the board they expect a management fund carryover north of $400,000 and briefed members on recent bill lists that included roughly $720,000 tied to two bond funds. Administrators said there were two larger bond payouts expected in March that total about $700,000 combined.
On benefits, finance staff recommended keeping dental rates unchanged, adding a $1 increase for single vision coverage and $2 for family vision, and a 2% increase for medical premiums based on current balances and vendor pricing. The board approved the recommended adjustments after the finance presentation.
The finance team also flagged that some equipment repair charges for the nutrition fund had been processed through the general fund and may require board action to reassign those costs while the fiscal year remains open. Staff said they will investigate whether minimal amounts can be reclassified and return with recommendations.
The board approved the monthly bills and moved to the consent agenda items that included personnel actions and policy updates. Administrators scheduled a budget hearing for April 22 and a preparatory work session to review bargaining and budget crosswalks.
