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Lebanon board approves $600,000 budget transfer and hears Seven Oak seismic project update
Summary
The board approved resolution 2649 to transfer $600,000 between budget functions to keep appropriations within limits, and staff reported the Seven Oak seismic project’s construction is being pushed to summer 2027 after GMP issues; state school fund reconciliation and strong investment earnings were also discussed.
The Lebanon Community School District Board approved a budget adjustment and received updates on capital projects and state funding reconciliations during its April meeting.
Budget action: Business/finance staff requested and the board approved resolution 2649 to transfer $600,000 from the 1000 function in the general fund to the 2000 functions to keep those functions within appropriations. The motion was moved, seconded and approved by voice vote. The board also approved a request to allocate additional reserve funding in the district’s internal service fund to cover unemployment claims.
State school fund and revenue: Finance staff reported ongoing state reconciliations for the 2024–25 school year. An initial estimate sent March 24 incorrectly included a common school fund payment; after corrections, the district’s net owed amount moved from a projected increase to owing $183,000 and later improved to owing about $101,000 following a subsequent estimate. Staff said a final reconciliation was expected on April 22.
Investment earnings and miscellaneous revenue: The district is on pace to meet a two-year goal of earning about $1 million in investment earnings; miscellaneous revenue so far this year is higher than budgeted ($130,000 to date vs. $50,000 budgeted). Finance staff explained miscellaneous revenue sources including insurance reimbursements and P-card rebates.
Capital project update — Seven Oak seismic project: Operations staff said the project’s construction phase is being moved to summer 2027 because the guaranteed maximum price came in above the grant allocation. The district will terminate the current CMGC contract with GBC for bidding reasons and intends to rebid in Sept–Oct 2026; the district confirmed about $36,000 has been paid to the general contractor to date and HMK will remain engaged as the construction manager under contract terms, including a guaranteed maximum price arrangement.
Next steps: Finance will finalize reconciliation with the state after the April 22 estimate; staff will enact resolution 2649 adjustments and report back on unemployment-claims reserve levels. Operations will debrief with the design and construction team, adjust budgets and prepare for rebidding in late 2026.
