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Hazel Park board approves corrected Budget Amendment No. 3; net gain $2.8M and estimated fund balance $4.07M
Summary
Trustees approved a corrected Budget Amendment No. 3 showing $2.4 million in additional revenues (mainly state aid), a net gain of $2.8 million, and an estimated fund balance of $4,074,754 (6.92%). Officials acknowledged a slide error and clarified figures during the presentation.
The Hazel Park Board of Education on April 6 approved a corrected Budget Amendment No. 3 that administrators said increases revenues by about $2.4 million and yields a net gain of $2.8 million for the district.
District presenters told trustees the revenue increase is driven mainly by state aid (about $1.5 million of the change) and by reclassifying a grant (31A/31AA) worth roughly $600,000–$700,000 from general fund expenditures to grant funds. Administrators said an earlier slide in the presentation contained incorrect figures and they provided corrected numbers during the meeting.
The administration reported the estimated beginning fund balance of $1.2 million and an estimated ending fund balance of $4,074,754, which it expressed as 6.92% of budget. During discussion staff clarified that expenditures were revised (the presentation noted an increase of $131,792 after corrections) and that additional changes are expected in a June amendment.
Board members asked for the presentation to be emailed for clarity and voted to approve the corrected amendment on a roll call.
Board action: Budget Amendment No. 3 as corrected was approved by roll call vote; administration said further updates will occur in the June amendment as additional information becomes available.
