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Board accepts clean audit, discusses levy strategy and bond timetable
Summary
Trustees approved a clean 2024–25 audit, reviewed fund balances and bond amortization, and unanimously certified the district’s L-2 levy form for 2025–26 while noting a $109,000 transfer to Child Nutrition and recommending placement of surplus funds into the LGIP.
The Bruneau-Grand View Joint School District Board of Trustees voted Sept. 9 to accept a clean 2024–25 audit and to approve the L-2 certification for the 2025–26 bond and supplemental levies.
Dan Coleman of Quest CPAs PLLC presented the audit, reporting that the district’s general fund revenues and expenditures increased in 2024–25 and that the district maintained a reserve larger than typical — roughly the equivalent of 10 months of expenses. Coleman told trustees that federal Child Nutrition funding did not cover program costs, prompting a $109,000 transfer from the general fund to the Child Nutrition Fund.
Board members discussed using state funding to reduce reliance on local levies and the district’s levy hierarchy: bond levy first, then supplemental levy, then plant facilities levy. Business staff reported applying $227,596 in state facility funds to outstanding bond and levy obligations.
Trustee Scott McNeley clarified FDIC insurance coverage limits for bank accounts and said the auditor recommended allocating some excess funds to the Local Government Investment Pool (LGIP) as a cash-management strategy. Business staff also reviewed the district’s bond schedule: an expected payment of roughly $324,000 in July 2026 and a final payment around Aug. 2027 of about $327,000 on the outstanding bond balance.
In open session the board unanimously approved the audit presentation and later voted unanimously to adopt the L-2 certification and an amended motion to set the bond and supplemental levy. The business manager was instructed to submit the L-2 form to the county.
The meeting packet showed the supplemental levy available figure and bond balances; trustees did not adjust the levy figures in public discussion during the meeting.
The board adjourned at 9:11 p.m.
