End of year fund balance improvements and sinking fund expenditures
Posted
Sam Inglot
Thursday, May 9 — The Lansing School District will have over $800,000 more in its coffers at the end of the year than earlier projected, according to a budget amendment presented at a Board of Education informational meeting tonight.
The district’s November financial audit showed an end of the year fund balance of just over $4.6 million. The latest audit shows an increase to that number by $828,000, which would put the district’s July 1 fund balance at about $5.4 million.
“It’s good news, what more do you want me to say? I’m just thrilled,” District Superintendent Yvonne Caamal Canul said after the meeting. “We’re watching these budgets like green on bean, like white on rice.”
That $5.4 million could increase even more between now and June, she said.
The board will vote on the budget amendment at its next board meeting on May 16, at which time the board will also hear the first 2013-2014 budget presentation from the administration.
The May 16 meeting will take place in the school board meeting room at the district’s administration building. The board has been meeting at Everett High School because of a partial ceiling collapse in the regular boardroom back in December, which has been fixed.
In other business, the board heard a presentation about the use of the district’s sinking fund money.
In 2010, the district levied a 1.5 mil increase that would generate $4.3 million every year for five years, said Brian Ralph, the district’s chief operations officer. To date, the district has spent nearly $7.1 million of that money. Among many other things, the money has been used for lighting improvements to ten schools, energy management systems for seven schools and new roofs for three schools.
Ralph said the district has $8.6 million of “critical needs” projects. He said the administration prioritized those needs down to $4.7 million.
Some of the larger projects include boiler upgrades for $864,000; building access systems (security) for $540,000; parking lot upgrades for $405,000, HVAC upgrades for $901,800; and roof replacement for $616,037.
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