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Superintendent’s team outlines first 2024/25 budget amendment with $1.1M projected increase in fund balance
Summary
Assistant Superintendent Jennifer Kaminski briefed the board on the first 2024/25 budget amendment, citing changes from Foundation Allowance, Special Education funding, enrollment projections and MPSERS categorical revenue that net to approximately $1,100,000 added to estimated fund balance; the amendment will return for action Feb. 11, 2025.
Assistant Superintendent Jennifer Kaminski presented the Revised General Appropriations Resolution (2024/25 first budget amendment) and explained key revenue and expenditure changes affecting the General Fund. Major drivers included Foundation Allowance adjustments, Special Education funding changes, enrollment projections, and the new MPSERS categorical revenue (147a(4)).
Kaminski said the net effect of the adjustments is an estimated increase in fund balance of approximately $1,100,000. She noted remaining uncertainties — state funding, enrollment trends and the federal/state economies — and outlined next steps: development of budget parameters for 2025-26, multi-year forecasts, and assessing the Governor’s proposed budget. The amendment will be presented for action at the Feb. 11 regular meeting.
