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Culpeper schools report $1.7M audited surplus; FY27 budget set at $128.5M
Summary
Finance director reported an audited surplus of $1.7 million for the prior year, explained revenue/expenditure drivers, and previewed a $128.5 million FY27 budget with instruction comprising roughly 76% of expenditures.
Finance director (Mr. Dean) told the board the audited school operating fund shows a $1,700,000 surplus. He attributed the surplus to expenditures running below budget and to leveraging federal funds for technology and fiber, while noting year‑end revenues were about $123 million on a $125 million budget.
Mr. Dean broke down the FY27 budget at $128.5 million, saying roughly $98 million (about 76%) is allocated to instruction, county contributions account for roughly 28% of revenue (about $36 million), and federal and other sources total roughly $5 million. In a separate food‑service discussion he read a deficit figure that appears as '$3.73' in the transcript; the finance director explained the program planned for a deficit tied to providing free breakfast and lunch and cited revenues near $4.4 million and expenditures about $4.7 million.
Board members thanked the finance staff for careful management and noted that better real‑time financial software is expected to improve departmental access to data going forward.
