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Board approves budget updates, GASB 54 fund balance resolution and transfers
Summary
The board approved budget updates, a Declaration of Need for Fully Qualified Educators, Resolution #1013 (indefinite salaries) and Resolution #1014 (GASB 54 committed fund balances), and authorized a transfer of an anticipated positive general fund ending balance to Fund 40.
At its June 5 meeting, the Kenwood School District Board approved a package of fiscal items including budget updates and multiple finance resolutions required for the 2025-26 fiscal year. The minutes record approval of Resolution #1013 declaring indefinite salaries for 2025-26 and Resolution #1014 to establish committed fund balances for the 2025-26 fiscal year “as required by GASB 54.”
The board also authorized transferring an anticipated positive general fund ending balance to Fund 40 and approved the Declaration of Need for Fully Qualified Educators for 2025-26. Motions and seconds are recorded in the minutes; specific dollar amounts for the transfer are not specified in the meeting text.
