MARIETTA — Due to conservative budgeting and student enrollment growth, the Marietta Board of Education doesn’t anticipate dipping into its reserve fund as originally planned.
Last summer, projecting revenue shortfalls, the board authorized the use of $3.7 million in reserve funding to help balance its Fiscal 2013 budget.
Yet using that reserve funding turned out to be unnecessary. Instead, the district is trying to figure out what to do with an expected $100,000 surplus.
On Tuesday, the board unanimously approved transferring any overages from Fiscal 2013 into the district’s $4.4 million building fund.
Fiscal 2013 ended June 30, but board Chairman Randy Weiner said it will take a few weeks before the final numbers from the budget year are available.
“We approved fund transfers to this account because it’s where we’ve been pulling money from lately and we need to replenish it,” Weiner said.
via The Marietta Daily Journal – Board of Education Reserve funds likely to remain untapped.
Comments ( 0 )