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Treasurer: transfers approved and grants accepted; $850,000 tax-credit forecast to reduce revenue
Summary
The board approved transfers into Title I, accepted multiple grants including two $50,000 awards, and was told tax credits are forecasted at about $850,000 per year, which will reduce district revenue beginning in FY2027.
During the Treasurer’s report the board reviewed financial reports and approved transfers into Title I (Title II-A → Title I: $3,703.98; Title IV-A → Title I: $2,154.13). The board also approved a resolution accepting the amounts and rates as determined by the Budget Commission for tax year 2026 and accepted several new grants recorded in the minutes: a Vallee Fund track award for $50,000 (with remaining $50,000 to be paid in FY27), a Summer Learning grant for $50,000, and a BWC Safety Intervention Grant of $14,545.79.
Minutes note a forecast that "Tax credits are forecasted at $850k per year that will reduce the district's revenue beginning in FY2027. This will significantly impact the district's revenue." The board discussed timing for appropriations and scheduled the Records Committee to meet 15–30 minutes before the June regular meeting; appropriations will be approved at the June meeting.
