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Wright City board approves FY26 budget amendment citing bond proceeds and rising IEP costs
Summary
Board approved FY26 Budget Amendment No. 2 after administration said updated revenues and bond proceeds for the gym increased available resources; the amendment projects a 23.04% fund balance and adds $1.5 million in expenses, including IEP and capital costs.
Administration presented FY26 Budget Amendment No. 2, telling the board that updated enrollment, assessed values and new receipts required adjustments to revenues and expenditures.
The administration said revenues would increase by roughly $2.3 million and highlighted bond proceeds intended for the gym project (the presentation also referenced nearly $12 million in bond money for the gym). On the expense side administration proposed about $1.5 million in increases, including roughly $465,000 for out-of-district IEP services and increased capital-project estimates for the performance gym. After the amendment the administration projected a fund balance of 23.04%, above the board's stated goal of 22%.
Board members asked clarifying questions about specific line items and tuition-reimbursement language in policy; after discussion the board moved to approve FY26 Budget Amendment No. 2. The transcript records the voice vote in favor (reported as 7-0). The administration said final numbers would be reconciled in June when year-end figures are available.
The amendment adjusts the budget to account for bond receipts and unanticipated student service costs; administrators said the changes do not increase the gym project estimate beyond previously approved scope, but they do formally add expected bond receipts into the FY26 revenue assumptions.
