Carroll County school board reviews FY27 budget outlook; approves routine banking-signature resolution

The Carroll County Board of Education received an update on district finances and the FY27 budget during its June work session and approved routine resolutions to adjust banking signers and pursue state capital outlay reimbursement.

Finance director Lane Wolf presented the April financial report, saying April general-fund revenues totaled $13.3 million, expenditures were $18 million, and the district’s fund balance stood at $50.7 million with about $2.1 million in outstanding purchase orders. Wolf said collections for the month were roughly $2 million, a 6.9% increase year over year, and that some spending increases reflect higher costs across the system.

On the FY27 budget, Wolf said the proposed budget is unchanged from the May 29 presentation and projects an overall 4% increase next fiscal year, driven primarily by increased state equalization funding on the revenue side and higher employee health-insurance costs on the expenditure side. He also announced a second public meeting on the proposed FY27 budget ahead of a formal adoption vote scheduled for the board’s June 18 meeting.

The board then considered a resolution to authorize finance staff to work with banks to change signature authority on district and school-level accounts and to designate appropriate school-level signers (typically principals and assistant principals). The board moved, seconded, and approved the resolution by voice/hand vote.

Separately, the board approved a resolution required to secure state capital outlay funds tied to the Central Middle School project, allowing the district to claim state reimbursement for work it had already completed and paid for in advance.

Next steps: the FY27 budget will be subject to the required public meeting and the board’s adoption vote at the June 18 meeting; routine finance changes will be implemented by district staff as authorized.