Boyne City board approves next-year budget, plans to spend about $1.0 million from fund balance

The Boyne City Public Schools Board of Education approved a set of year-end amendments and the district's budget for the coming year, including a planned use of roughly $1,000,157.07 from the district's fund balance.

Irene, a district finance staff member who presented the figures to the board, summarized the plan and numbers: "We will be spending $1,000,157.07 from fund balance for negative spending for next year," and said projected expenditures for next year were listed in the presentation as "$22,000,001.98." She told the board the majority of the district's expenses are personnel-related, estimating that about 85'86% of the budget is salaries and benefits.

Board members and staff discussed reserve levels and timing. The presenter said the district was "predicting a 27 percent fund balance" for the following year in an earlier exchange and later noted the expectation that year-end results could be near a 32% fund balance depending on June accounting and audit outcomes. Trustees asked clarifying questions about categorical aid and potential state funding changes; staff said some state grants carry strings and that the district is watching the state budget.

The motions to adopt the year-end amendment and next-year general-fund resolution were moved and supported by trustees and passed in voice votes. The board asked staff to continue monitoring revenues and expenditures and to provide final figures when the audit work is complete.