Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Fund Balance Allocation topic
No spam. Unsubscribe anytime.
Board assigns $2.77 million of fund balance for debt, capital and PSERS; authorizes post-audit transfers
Summary
The board allocated $2,768,768 of the 2024–2025 ending unassigned fund balance for debt service, capital improvements, PSERS increases and healthcare, and authorized the superintendent to make budget transfers after the local audit; copies of transfers will be provided to the board.
At the June 18 meeting the board approved allocating $2,768,768 of the district’s 2024–2025 ending unassigned fund balance to a designated account (#0771) for debt service, capital improvements, PSERS (pension) increases and healthcare costs. Richard Mangino moved the allocation, Roxanne Exposito seconded, and the motion carried by recorded vote.
Separately, the board authorized Superintendent Dr. Michael Ross to make budgetary transfers after the local audit to bring budget line items into balance; the motion specified that copies of all transfers will be furnished to the board at the completion of the audit. That motion was moved by Valarie Pavelko, seconded by Exposito, and recorded as carrying unanimously. The actions together create an assigned fund balance and procedural authority intended to allow the district to close the fiscal year cleanly and address projected PSERS and healthcare cost pressures.
