Board previews $105.6 million general fund budget and bond parameters ahead of vote

At the work session the district's finance presentation previewed the proposed 2024–25 general fund budget and discussed a parameters resolution to authorize new debt.

Finance staff said the budgeted revenues and expenditures are each about $105,600,000, representing a 4.92% increase in expenditures year over year and an operating deficit of roughly $43,000; the administration said the plan retains an unassigned fund balance at or above five percent per board policy. The recommended tax proposal represents a weighted average increase of about 4.4%, which the presentation noted is below an Act 1 index figure cited as 5.3%.

On debt, the parameters resolution presented will be on the regular-meeting agenda. Finance staff explained the paperwork lists a $16,000,000 structure to provide flexibility for timing and rates while the actual intention is to issue $14,000,000; bond counsel and financial presenters will attend next week and the district expects its AA1 rating to carry over following a ratings call and final report.

Next steps: the budget will be presented in detail at a May 6 budget hearing and the parameters resolution will be considered for approval at the regular meeting next week.