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Covington board discusses aligning carryover calculation for site-based funds
Summary
District staff presented a revised carryover spreadsheet and recommended either keeping current informal practice this year or aligning with the board policy that defines carryover as 5% of unspent funds; the board asked the policy committee to examine the change and will revisit the item.
Director Burchi presented a revised spreadsheet showing a different carryover calculation and told the board that the district policy states carryover should be “5% of what is left.” She said the alternative method staff had been using (5% of original allocation) produced higher carryover amounts and that staff prepared the revision to reflect the letter of the policy.
“We did a revision spreadsheet to show the differences,” Director Burchi said, asking the board whether it preferred to continue the historical practice or to move toward policy alignment. Superintendent Lucas said the district will implement quarterly reviews with building leaders so school staff can monitor balances earlier in the year and avoid year-end spending scrambles.
Board members agreed to take the item to the policy committee for review and to bring a recommendation back to the board in two weeks; staff treated the presentation as informational at this meeting and will return with an approval item if policy changes are proposed.
