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District places FY25 amended budget — superintendent cites $16 million surplus from bond receipts
Summary
Superintendent Dr. Wise told the board the FY25 Amended Budget reflects revenue from Debt Certificates and Health Life Safety Bonds and shows an estimated $16 million surplus this year; the board voted to place the amended budget on public display for 30 days.
Superintendent Dr. Wise explained the FY25 Amended Budget includes revenue from Debt Certificates and Health Life Safety Bonds that together produced an estimated $16 million surplus for the year. He told the board that because the revenue was recognized in this year's budget, the next three budgets will show budgeted expenses $3–6 million higher than budgeted revenues, and that the funds to complete planned facility work are in the district's fund balance. "The money to complete the work is in the fund balance (savings)," Dr. Wise said during his report.
The board voted unanimously to place the FY25 Amended Budget on public display for 30 days, a standard step that allows public review before formal adoption. The agenda item was approved by voice vote; board members also discussed that the surplus stems from bond and certificate proceeds earmarked for facility projects, and noted future budgets will reflect timing differences between revenue receipt and expenditure.
