The Pagosa Peak Open School (PPOS) board unanimously approved its budget for the 2024-2025 fiscal year at a special meeting held on June 24.
The 2024-2025 budget shows an estimated general fund revenue of $1,564,431.18, which is up from the January approved budget that showed a total general fund revenue of $1,505,159.59.
Total income for the 2024-2025 budget is listed at $2,457,712.18, which is down from the January approved budget that listed $2,627,901.28.
Total expenses in the 2024-2025 budget are listed at $2,449,821,71, leaving a net income of $7,890.47, which is up from the January approved budget that projected a net income of $4,468.84.
During a regular meeting held on June 19, the board voted to schedule a special session for the purpose of approving the 2024-2025 budget after board secretary Bill Hudson expressed concern that the proposed document did not meet the criteria needed to adhere to the state’s budget law.
“I’m concerned,” said Hudson, explaining that the state requires the actual approved figures for the prior fiscal year, along with projected figures for the remaining current fiscal year.
“The budget that I saw didn’t have the previous years ... so I don’t know if the board wants to approve this,” Hudson said.
Hudson suggested the board schedule a special meeting to revisit the matter because the initially proposed document was “lacking” what is required by the state.
Angela Reali-Crossland, then the school director, explained that she had misinterpreted the requirements, noting that budgets for prior years were viewable from the schools website, but not included in the same document as the 2024-2025 budget that needed approval.
Board treasurer Pamela Meade noted the document could be fixed to include the missing items needed to approve the budget.
“I don’t think anybody intended to not follow this rule; we just didn’t realize the whole scope,” she added.
At the meeting held on June 24, Meade explained she “updated the document with prior years.”
During the June 24 meeting, the board also unanimously approved Resolution 2024-003, with the budget appropriation for 2024-2025, which was originally presented at the June 19 meeting.
The resolution shows total allocation of funds for the 2023-2024 fiscal year listed at $2,457,712.18, with $1,467,431.18 coming from the general fund.
The total figure includes $84,000 from the school district’s mill levy override and $13,000 from the activity fund. Also included in the total figure is grant funding, with $39,000 coming from federal funding, $120,881 from state funding and $733,400 from local funding.
During the June 19 meeting, the board unanimously approved two other budget-related resolutions.
The first resolution approved authorizes the use of beginning fund balance as authorized by Colorado state statutes.
Reali-Crossland explained that the student activities fund had a balance of approximately $60,000 last year, which she noted it is “great” to have in reserves, but not in the student activities fund “because this is money families are putting in.”
She noted the current balance in the student activities fund is $42,069.49.
The second resolution approved at the June 19 meeting was Resolution 2023-003, for the revised figures for the 2023-2024 fiscal year budget, which shows total allocations at $1,992,872.56.
Of that total, $1,406,427.03 is from the general fund, $85,500 is from the mill levy override and $56,669.49 is from the activity fund.
Grant funding is also included in that total, with $152,913.83 coming from federal funding, $230,962.21 coming from state funding and $60,400 coming from local funding.
Treasurer’s report
At the June 19 meeting, Meade provided the board with a treasurer’s report, in which she highlighted incomes and expenses for the month of May along with a full-year review from July 2023 to May of this year.
Meade also included a balance sheet for accounts as of June 14.
Meade noted that for the month of May the school had a total income of about $155,000 and a total expense of about $142,000, leaving a net income of $13,000.
She also highlighted that the school has earned $10,398 in interest payments, “most of which is going to the playground.”
For the income and expense review from July 2023 to May 2024, Meade noted that at the end of May the school had a total income of $1,456,925.95 and a total expense of $1,713,966.50, leaving a net loss of $257,040.85.
She explained that she is still working with Archuleta School District on getting funds requested to cover that deficit.
“Still a lot to work out,” Meade added.
The board voted unanimously to approve Meade’s report.
Additional documents pertaining to current and previous years’ budgets can be found online under the school’s meetings and agenda page at https://pagosapeakopenschool.org/meeting-agendas/.
Also at the June 19 meeting, the board unanimously approved a resolution updating authorized signatories for the school’s bank accounts.
The resolution removes Reali-Crossland and adds Emily Murphy, the new school director, as the authorized signer for two accounts with First Southwest Bank and two accounts with Rio Grande Savings and Loan.
Position appointments
During the June 19 meeting, the PPOS board appointed its members to individual roles.
Reappointed positions include Lawrence Rugar as president, Jesse White as vice president, Meade as treasurer and Hudson as secretary. Each position was appointed for a one-year term.
New board member Catherine Siebel also took her official oath of office.
Reali-Crossland served her last day as school director on June 27.
clayton@pagosasun.com
