Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Reserves topic
No spam. Unsubscribe anytime.
Board discusses $1.4M shortfall, considers using $1.7M capital reserve
Summary
District staff presented a projected $1.4 million shortfall for the coming year and outlined options including reallocating up to $200,000 from CTE grant funds, tapping about $700,000 from a $1.7 million 501 capital-project fund and limiting draws from general fund balance to $300,000.
Jennifer, a district staff member, gave a budget overview that showed projected revenue shortfalls and several options to close the gap. She told the board that bond proceeds are restricted and "cannot be used for operating expenses," while the districts 501 capital-project fund holds about $1,700,000 that "is not bond funds" and could be shifted back to operating to cover shortfalls.
Jennifer said reallocating funds would be managed at budget readings and that the board would not need to transfer money until year-end if they prefer to wait for clearer revenue figures. She noted that some offsets are uncertain because county filings and a local industrys revenue projections (referred to by staff as Tayshien/Taygen) have not been finalized with the Department of Revenue.
