Roaring Fork School Board approves $497.5K budget adjustment
An error in the Roaring Fork School Board’s annual budget prompted a discussion regarding the need for a supplemental budget request during the Board of Education meeting on Sept. 11.
The request, which came after several discrepancies were discovered in the 2024/25 budget, aims to adjust funding for Glenwood Springs High School and charter schools in the district. The total adjustment, which was unanimously approved by the board, is roughly $497,491, which will be drawn from the district’s beginning fund balance.
The supplemental budget, a tool used when adjustments are needed after the original budget has been adopted, reflects corrections that were missed in the initial planning. The board’s focus during the meeting was to ensure that these changes are accounted for within the current fiscal year.
One of the significant issues involved the omission of Glenwood Springs High School from the general per-student allocation, which other schools had received. This oversight was the key reason for the supplemental budget request, as it affected the overall allocation for the school.
“There wasn’t anything missing, as far as Glenwood Springs High School,” Chicoine said. “What happened was it was an inadvertently missed item in the final budget. It was an accidental omission.”
The school’s general student allocation of $172 per student was mistakenly left out of the budget, which the board is now addressing.
In addition to the student allocation, Glenwood Springs High School is set to receive $71,902 in contingency carryover funds. These funds represent unspent discretionary money from the previous year, which will be rolled over into the current fiscal year. This rollover is a common practice within the district.
“The amount is based on what they had not spent in the previous year’s budget,” Chicoine said. “We don’t want them to lose access to these funds, so they’re carried forward.”
Board members expressed interest in understanding why Glenwood Springs High School needed this specific amount of contingency funding. The contingency fund often covers expenses for projects such as class trips, activities, or other school-specific needs. Each school manages its contingency differently, depending on leadership decisions and anticipated future needs.
“The amount a school carries over depends on the leadership and what they plan to use the money for,” Chicoine said. She further explained that while schools are encouraged to spend their allocated funds within the school year, some larger projects may require them to save and roll over unspent money.
Another important part of the supplemental budget request involves changes to the charter school funding formula. The district originally charged charter schools a 5% administrative fee, but upon further review, it was determined that the fee should be lowered to 2.5%. As a result, charter schools will receive a higher share of their funding for the 2024/25 fiscal year.
“We’re reducing our fee, which will be passed directly to the charter schools,” Chicoine said. “This adjustment reflects a more accurate calculation of what is allowable under state law.”
This reduction in the administrative fee is part of the district’s efforts to ensure that funds are allocated fairly and accurately across all schools, including charter schools. The district is currently working to reconcile both the 2023/24 and 2024/25 budgets, ensuring that all corrections are made in compliance with state regulations.
In addition to the adjustments for Glenwood Springs High School and charter schools, the supplemental budget also addresses free and reduced student activity fee reimbursements. This aspect of the budget ensures that schools are reimbursed for waiving certain fees for students who qualify for free or reduced-price programs, a crucial part of the district’s equity initiatives.
Throughout the meeting, board members praised the district’s efforts to maintain transparency and address the discrepancies as soon as they were identified.
As a result of these corrections, the district will now be operating with a higher use of its beginning fund balance. Initially projected to be a reduction of $2.19 million, the use of the fund balance has now increased to nearly $2.69 million factoring in both one-time expenses and ongoing costs.
“This is half a million dollars of additional expenditures that were not included in the original budget,” Chicoine said. “It’s crucial we understand the impact on the district’s finances.”
Looking ahead, the district expressed their commitment to conducting a thorough review of the 2024/25 budget to identify and rectify any further discrepancies. While the board hopes this will be the last adjustment, there is acknowledgment that more could surface as the budget undergoes deeper scrutiny.
“If we have to make further corrections, we will,” Chicoine said. “We want to make sure we maintain the integrity of the district’s finances.”
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