Board reviews amended 2024–25 budget after new grants increase revenue by about $309,000

Lebanon R-III finance staff reported an increase of roughly $308,740 in revenue for the 2024–25 fiscal year driven by several recent awards and an insurance recovery. The grants include a Missouri career advising initiative award ($23,090), a postsecondary advising grant ($74,006.95), funds for homeless children and youth used for student transportation ($44,004.64) and a Perkins payment ($158,004.17); the district also recorded an $8,074 insurance claim recovery.

"So on the revenue side, there would be an increase of $308,740," the finance presenter said while walking the board through the amended figures that adjust the district’s operating budget to about $61,047,005.76 for the year. On the expenditure side staff said carryover spending for an early childhood center and grant-related commitments would add $518,008.73 in commitments that must be recognized in the current budget.

Board discussion included routine clarifying questions about the insurance recovery and carryover funds. A board member moved "to approve the amendment to the this year 2024–25 budget as presented" (mover: S11); the transcript records the motion and subsequent discussion but does not include a full roll-call tally in the record provided.

Staff said the Perkins payment reflected money from the prior year that arrived this year and that the district must adjust the budget accordingly. Finance also noted that the year-to-date fund balance and other line items remain within expected ranges when one-time timing differences are considered.