Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
CHCCS board unanimously approves Q2 budget amendments and financial statements
Summary
The board approved the district’s FY2025–26 second-quarter budget amendments and financial statements unanimously after a presentation that showed midyear revenues of $44.4M (68.5% collected), midyear expenditures of $45.1M and a midyear net position $3.5M ahead of last year.
The Chapel Hill-Carrboro City Schools Board of Education voted unanimously on Jan. 15 to approve the district’s FY2025–26 second-quarter budget amendments and financial statements.
Mr. Scott (speaker S6) presented the financials, reporting $44,400,000 in revenue (68.5% of the annual budget) and $45,100,000 in midyear expenditures. He said midyear net income stood at $14,400,000, about $3.5 million better than at the same point last year, driven primarily by lower salaries and benefits and reduced services spending.
Scott also noted uncertainty at the state level: North Carolina had not adopted a biannual budget at the time of the presentation, and a retroactive salary increase (the presenter used 3% as an example) could add roughly $1 million in current-year salary costs if applied retroactively; a larger increase would raise that exposure. He told the board the district has limited reserves and needs to continue rebuilding fund balance toward recommended benchmarks.
Board members asked for clarifying enrollment and fund-balance projections. A motion to approve the amendments was made by Meredith and seconded by Ronnie; the motion passed unanimously.
Next steps: staff will post the financial reports and detailed Q2 materials on the district website and make underlying data available for deeper review in finance and facilities committee meetings.
