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Board clarifies plan to replenish $990,000 capital reserve; district expects roughly $1 million
Summary
A board member asked whether the $990,000 drawn from the capital reserve can be replenished; Deputy Superintendent Maureen Raynor said the district expects to replenish about $1,000,000 from excess fund balance and interest income.
During the meeting a board member asked about the $990,000 use of the capital reserve and whether the reserve could be replenished this year. Deputy Superintendent Maureen Raynor responded that the district expects to replenish about $1,000,000, drawing on excess fund balance and interest income on the reserve: "We're we're expecting just about the same, probably around 1000000 dollars we're gonna be able to replenish it. That comes from, excess fund balance this year, as well as interest income on that reserve."
The exchange occurred after the budget presentation and was brief; the answer indicates the district anticipates offsetting the capital-reserve usage within the current fiscal year, subject to final accounting and audit confirmation.
