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Board approves 2024–25 budget amendments and transfers $150,000 to capital savings
Summary
Trustees approved administrative amendments to the district’s 2024–25 general fund—reflecting a small enrollment decline, categorical revenue shifts and a transfer of just over $1,000,000 from capital to general to complete bond work—and authorized a $150,000 transfer from general fund to capital project savings.
The Boyne City Public Schools Board of Education approved amendments to the 2024–25 general fund budget and a $150,000 transfer from general fund to capital project savings at its meeting. Finance staff described enrollment down by about 10 students from budget assumptions and said the district had moved "a little over $1,000,000" from capital projects into the general fund to finish bond work; the amended figures were presented as roughly $20 million in revenue and about $21 million in expenses, with administrators estimating the district would spend about $749,000 from its fund balance this year.
"We are going to be spending about $749,000 from our fund balance," finance staff said, and added the fund balance would remain within board policy after the changes. Trustees moved and approved the general fund amendments by voice vote and then approved the $150,000 transfer to capital savings (motion moved by Joel, seconded and approved by voice vote). The board was told the changes reflect categorical shifts and grant adjustments (including security grants and filter/grant work for drinking fountains).
