In a recent government meeting, officials presented the financial outlook for Fiscal Year 2025, revealing a budget surplus of $5.46 million based on unaudited figures. Total revenues for the year are projected at approximately $45.06 million, while expenditures are expected to reach around $47.11 million, indicating a planned deficit of about $2.05 million.

The anticipated revenue reflects an 8% decrease compared to the previous year, primarily due to the absence of $2.7 million in state responses and the discontinuation of specific grants. Conversely, expenditures are set to rise by 8.8%, largely driven by a $3 million allocation for essential capital improvements, including roofing, HVAC upgrades, and various building repairs.

The budget also accounts for a 3.25% salary increase as part of a bargaining agreement and an increase of $273,500 in the cleaning contract. Special education costs continue to escalate, contributing to the overall rise in expenditures.

Despite the projected deficit, officials noted a healthy fund balance of nearly $32 million, which alleviates immediate concerns regarding the budget shortfall. The board is expected to review and potentially approve the tentative budget during a public hearing scheduled for September 16, with final numbers anticipated following the state’s grant allotment.

The meeting concluded without questions from attendees, and the board moved to a closed session.