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Monroe Public Schools board reviews final 2024-25 budget as audit begins
Summary
Superintendent Shaw presented the district's final 2024-25 budget, reporting an unaudited fund balance near $2.8 million and saying an external audit of internal accounts begins the next day and will be presented to the board in September.
Superintendent Shaw presented the Monroe Public Schools final 2024-25 budget and told the board the district's unaudited general fund balance is roughly $2.8 million. "We're ending, with a point $2,800,000 fund balance," Shaw said as she walked through revenue and expense line items and noted several timing and grant factors that affect the unaudited total.
Chair Dennis Jones turned the meeting to the superintendent and the board discussed next steps for verification and revision. Shaw said auditors will begin work on internal accounts "literally tomorrow" and that the district expects to present audited results to the board in September, when the beginning- and ending-balance figures will be finalized.
Shaw outlined that local revenue rose modestly, state revenue increased and federal transfers also grew in the revision, but she cautioned the board that the numbers shown are unaudited and subject to revision. The presentation listed key drivers including retirement-rate adjustments, a sale of a parcel reflected as local revenue and several offsetting grant items.
Board members pressed for clarity on assumptions used in the budget and were told the figures will be refined during the first budget revision later this year after auditors close the year. The board did not take formal action on the budget at the meeting; Shaw said the audit and the November-December budget revision will determine whether additional steps are required.
