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Board creates non‑lapsing 2% account, with roughly $238,000 available from prior year balances
Summary
The board voted to create a state-authorized non-lapsing account to retain up to 2% of the annual budget for emergency, capital or student needs; administrators indicated approximately $238,000 from 2024/25 balances could be deposited upon year‑end closing.
Board members moved to create a non‑lapsing account under the 2024 legislation that permits districts to retain up to 2% of the budget in a restricted fund. The motion’s language described the account as a place to hold unused funds for future emergency or capital needs rather than for routine operating expenses.
Administration said that when 2025 closes there are funds available and that the 2024 balance was about $238,000. A board member asked whether spending from the fund would require board approval; administrators confirmed that expenditures would require board votes and the district would adopt a policy governing allowable uses (the policy language modeled the capital fund rules and explicitly forbids routine operating purchases).
The motion to create the account passed after discussion. Board members asked administration and the business office to bring a policy and procedures for the account’s governance, spending approvals and reporting at a future meeting.
What happens next: administration will (1) establish the bank/account mechanics, (2) present a detailed policy governing eligible uses and approval steps, and (3) identify the initial deposit amount after year‑end close.
