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Board reviews long-range finance plan, discusses reallocation of surplus bond funds
Summary
Board President Dr. Facko and Assistant Superintendent Dr. Smit updated the board on long-range financial planning and discussed using surplus roof-replacement bond funds to finish life-and-safety survey items and purchase supplies, after the roof project came in under budget.
Board President Dr. Facko and Assistant Superintendent Dr. Smit presented a long-range financial planning update that highlighted revenue–expenditure gaps driven primarily by increased enrollment. The minutes note that a study is underway to examine those gaps and inform next steps.
The board also discussed reallocating surplus bond proceeds from the Independence Junior High roof replacement, which is expected to cost less than originally budgeted. The minutes state the surplus would be used "for completing remaining items from the 10-Year Health and Life Safety Survey, and purchasing supplies and equipment that would otherwise require operating budget funds." No formal vote on the reallocation was recorded at this meeting.
