Madison school district drains fund balance in five years; will have no extra money for at least three years

Madison school district drains fund balance in five years; will have no extra money for at least three years

Starting next year the Madison school district is projected to have over a million dollar deficit in their fund balance and only a sliver of available money when classes start in the fall. Final expenditures approved by the school board for the 2024-25 fiscal year – July 1 through June 30 – were $16,814,585 in revenue and $17,804,973 in expenditures, draining their fund balance down to $84,272 leaving the district with a 0.5% fund balance as a p…