Grundy R-5 Board of Education addresses budgets at latest meeting

Grundy County R-5 School District website

Grundy R-5’s Board of Education has amended the 2021-22 budget to reflect actual expenditures and revenues. Members also adopted a new budget for the fiscal year that begins Friday, July 1, 2023. Both budgets show surpluses.

Information from Superintendent Phil Fox said the fiscal budget that concludes the year today shows a surplus of $43,482. The actual expenditures topped $2,532,082. Revenue for the one-year period was $2,575,564.

A much smaller balance is predicted for the 2022-23 budget year at Grundy R-5.  Revenues are expected at $2,664,55. Expenses are projected at $2,660,252, leaving an estimated surplus for the one-year period of $4,313.

Grundy R-5 board members approved cashing in a $200,000 maturing certificate of deposit. Those funds will be placed in the regular checking account. Administrators were asked to investigate better investment opportunities for these funds.

After a discussion on the teacher baseline salary grant available from the state, the Grundy R-5 School Board voted not to participate in the grant program at this time.

An executive session was held with no announcement made.