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Echo SD 5 finance update: new state estimates add funds, budget resolution expected next month
Summary
District finance staff reported updated state school fund estimates and stable enrollment produced additional funds; some major function lines look over budget and a budget resolution will be proposed next month to appropriate higher-than-expected SIA/state grant receipts.
District finance staff summarized the monthly financial packet, telling the board that updated state school fund estimates combined with stable enrollment mean the district will receive additional funds after earlier projections suggested possible paybacks to the state. "Last month we thought we were going to have to pay some funds back to the state, but the new state school fund estimates came out and our enrollment stayed stable," the staff member said.
The staff member warned that several major-function lines currently look a bit over budget and that the district will monitor those areas closely. They said a budget resolution will be brought to the board next month to appropriate recently identified SIA and other state grant receipts so the district has the appropriate appropriations in place. No detailed dollar totals were presented in the public report at the meeting.
