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Board approves year-end budget transfers and step increases, shifts debt timing to gain aid and interest savings
Summary
Trustees approved technical budget transfers, a $5.7 million timing move into Fund 39 to accelerate a high‑school debt payment, and staff step increases; finance staff explained the shift increases projected state aid next year while lowering long-term interest costs.
The Verona Area School District board approved several finance motions intended to close the current fiscal year accurately and improve the district’s long-term debt position.
Finance staff recommended a year-end transfer that moves about $5.7 million into Fund 39 in July to be used for an extra debt payment on the high school. Pete, the district…
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