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Board approves financial reports, consent agenda and a $511,852 budget-guarantee resolution
Summary
Trustees approved the February financial report, consent items and a budget-guarantee resolution for $511,852 to smooth revenue loss tied to an estimated $395,000 enrollment-related decline; staff noted expenditures at about 56% of the annual budget to date.
At the March 11 meeting the board approved the monthly financial report for February, the consent agenda and a budget-guarantee resolution designed to ease revenue impacts from recent enrollment declines.
Staff reported expenditures through month eight are about 56% of the fiscal-year budget (the district had budgeted $21 million annually and is spending roughly $1.5 million per month, putting current year-to-date spending slightly below the 66% pacing point). The presenter said revenues and grant receipts (first and second quarter federal/state funds, CTE money) are on schedule.
Trustees approved the financial report and consent items by motion and recorded voice votes.
The board also approved a budget-guarantee resolution for $511,852, a two-year adjustment intended to mitigate the effect of the district’s enrollment loss; staff reported an estimated $395,000 revenue loss connected to 77 fewer students. The resolution will be incorporated into state-aid and tax calculations as allowed under Iowa rules for districts experiencing enrollment decline.
Board members set the second FY27 public hearing date for April 8 at 6:00 p.m. and directed staff to prepare the required separate-agenda hearing materials.
