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Sheridan School District No. 2 adopts amended 2025–26 budget and authorizes use of beginning fund balance
Summary
The Board of Education adopted an amended 2025–26 budget totaling $29,428,849 and authorized using portions of the 2024–25 beginning fund balance for specific funds, including $1,155,791 for capital projects and $706,261 for the bond fund.
The Sheridan School District No. 2 Board of Education adopted an amended 2025–26 fiscal year budget at its Jan. 27 meeting, approving total expenditures across all funds of $29,428,849.
The budget lists the General Fund at $19,414,443; the Insurance Reserve Fund at $831,223; Bond Redemption at $1,681,558; Nutrition Services at $916,340; Designated Grants at $5,259,591; the Colorado Preschool Fund at $606,154; Pupil Activity at $78,340; and Capital Projects at $641,200.
In a separate but related resolution, the board authorized the use of portions of the fiscal year 2024–25 beginning fund balance as allowed under Colorado law (C.R.S. 22-44-105). The resolution specifies the following uses and amounts: Food Services Fund $49,236; Insurance Fund $2,266; Capital Projects Fund $1,155,791; and Bond Fund $706,261. The resolution lists $0 for use of the General Fund beginning balance for the stated purposes. The minutes state the board acknowledged that using these portions of beginning fund balance “may lead to an ongoing deficit.”
Superintendent Dr. Gionni Thompson presented the budget materials to the board during the meeting. The minutes do not record a detailed roll-call tally for the budget adoption motion; the document states budget actions were adopted as presented.
Why it matters: adopting the amended budget and authorizing specified uses of beginning fund balance sets spending limits and determines how one-time balances will be deployed for capital projects, food services and other district operations over the current fiscal year. Using fund balance for capital projects and bond shortfalls can address near-term cash needs but, as the resolution notes, may contribute to longer-term deficit risk.
What’s next: the board’s resolution affirms the action under C.R.S. 22-44-105 and authorizes staff to implement the appropriations for the listed funds. The minutes do not specify follow-up reporting deadlines for the board; any additional reporting or corrective steps were not specified in the minutes.
